WaveTalks-HDFC- The Connecting Moves (Wave Analysis)

Short Video Outlook on HDFC

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22nd Jan 2022
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4th July 2021 - HDFC - WaveTalks -Pattern /Patience & Penultimate Correction which was Wave 4 Triangle.
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Expectation
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Wave 5 Expected Post Penultimate Wave - Targets achieved 2650 / above 2777 - 2900+

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Outcome
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Achieved - Wave 5 Topped at 3021 Highs in Nov 2021


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9th Nov 2021 - HDFC -Wave 5 - What it could be unfolding ?
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Expectation
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Some kind of Topping Out Pattern Ending Wave 5 & The Impulsive Sequence Starting from 1473 Lows in March 2020

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Outcome
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Topping Out Pattern in Wave 5 Unfolded as Ending Diagonal & Topped at 3021 Highs in Nov 2021

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What Next ?
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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 2022

HDFC 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

Comment:

14:32 Hrs / 24th Jan 2022

HDFC 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 2022

HDFC Last @ 2535

Bounced from day low / Index holds 17K & bounces 150+ points.

Trade closed manually