HDFC - Classical Range Trading
As chart suggests Triangle Breakout is possible, continuous negative (RSI - Price) divergence might turn Bearish breakout.
If RSI ranges 40-60, trade sideways. Most probably scrip will remain in range. Strategy - Sell High - Buy Low. Stop-loss : Above Resistance Level with calculated risk. Target: Above Support Level favoring money management(Risk-Reward) strategy.
However, if RSI rises above 60 or 65 resultant positive divergence will turn ascending triangle breakout.
If RSI ranges 40-60, trade sideways. Most probably scrip will remain in range. Strategy - Sell High - Buy Low. Stop-loss : Above Resistance Level with calculated risk. Target: Above Support Level favoring money management(Risk-Reward) strategy.
However, if RSI rises above 60 or 65 resultant positive divergence will turn ascending triangle breakout.
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