WaveTalks-HDFC- The Connecting Moves (Wave Analysis)
Updated
Short Video Outlook on HDFC
-------------------------
22nd Jan 2022
-------------------------
-------------------------------------------------------------------------------------------------------------------------------
4th July 2021 - HDFC - WaveTalks -Pattern /Patience & Penultimate Correction which was Wave 4 Triangle.
------------------------------------------------------------------------------------------------------------------------------
----------------------
Expectation
----------------------
Wave 5 Expected Post Penultimate Wave - Targets achieved 2650 / above 2777 - 2900+
----------------------
Outcome
----------------------
Achieved - Wave 5 Topped at 3021 Highs in Nov 2021
----------------------------------------------------------------------------------------
9th Nov 2021 - HDFC -Wave 5 - What it could be unfolding ?
---------------------------------------------------------------------------------------
-----------------------
Expectation
-----------------------
Some kind of Topping Out Pattern Ending Wave 5 & The Impulsive Sequence Starting from 1473 Lows in March 2020
-----------------------
Outcome
-----------------------
Topping Out Pattern in Wave 5 Unfolded as Ending Diagonal & Topped at 3021 Highs in Nov 2021
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------
What Next ?
-----------------------
Ongoing Corrections unfolding. 2540 could be a possible short term support as it unfolds
Few days of possible upside moves can be expected next as India has Budget 2022 & Break below 2541 can make stock slip & retest 2380-2400 support zone. Getting upside bounce from 2541 -partial targets to be booked at 2650 & 2750
Thanks & Have A Lovely Weekend
-------------------------
22nd Jan 2022
-------------------------
-------------------------------------------------------------------------------------------------------------------------------
4th July 2021 - HDFC - WaveTalks -Pattern /Patience & Penultimate Correction which was Wave 4 Triangle.
------------------------------------------------------------------------------------------------------------------------------
----------------------
Expectation
----------------------
Wave 5 Expected Post Penultimate Wave - Targets achieved 2650 / above 2777 - 2900+
----------------------
Outcome
----------------------
Achieved - Wave 5 Topped at 3021 Highs in Nov 2021
----------------------------------------------------------------------------------------
9th Nov 2021 - HDFC -Wave 5 - What it could be unfolding ?
---------------------------------------------------------------------------------------
-----------------------
Expectation
-----------------------
Some kind of Topping Out Pattern Ending Wave 5 & The Impulsive Sequence Starting from 1473 Lows in March 2020
-----------------------
Outcome
-----------------------
Topping Out Pattern in Wave 5 Unfolded as Ending Diagonal & Topped at 3021 Highs in Nov 2021
-----------------------------------------------------------------------------------------------------------------------------------
-----------------------
What Next ?
-----------------------
Ongoing Corrections unfolding. 2540 could be a possible short term support as it unfolds
- Piercing Candlestick Pattern - Reversal Pattern
Rising Trendline Supports
Few days of possible upside moves can be expected next as India has Budget 2022 & Break below 2541 can make stock slip & retest 2380-2400 support zone. Getting upside bounce from 2541 -partial targets to be booked at 2650 & 2750
Thanks & Have A Lovely Weekend
Trade active
12:55 Hrs / 24th Jan 2022HDFC Last @ 2555
Traders should never hurry in trades & oftenly seen that at key levels it gives dip & bounce, when this happens which is the case today going below 2540 & bouncing above could trap traders on further selling.
Nifty Index Low - 17210
Note
14:32 Hrs / 24th Jan 2022HDFC Last @ 2530
It was short term fall for the stock below rising trendline & support at 2540/2541. Day low @ 2510. A sharp bounce can be expected as Index touched psychological level of 17000. So, likely avoid taking sell positions at the moment & wait for a bounce till expiry day of the week.
Going below 17K - Index will resume more fall
Nifty Last @ 17100
Trade active
15:24 Hrs / 24th Jan 2022HDFC Last @ 2535
Bounced from day low / Index holds 17K & bounces 150+ points.
Trade closed manually
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.