---------------------- 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
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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
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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
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15:24 Hrs / 24th Jan 2022
HDFC Last @ 2535
Bounced from day low / Index holds 17K & bounces 150+ points.
Great and agree. The support line connecting w4 and the recent swing low also appears to be neckline of H&S on daily. The fall once broken is likely to be swift and heavy.