Long
HDFC a good lesson
Updated
HDFC is a typical case of a failed pattern it formed a triple top formation which sometimes turns out to be a rectangle(a continuous pattern in a trend in this case its in uptrend)
Point to be noted is that failed patterns have the tendency to earn huge money(potential)
But in HDFC case it does not matter
The lower bound of the rectangle that is 1667 is also a strong support level
Plus the weekly support level of 1693-94 is a strong support zone and till now is holding on
The upper bound is currently at 1801 which is far away from current levels (80 pts minimum)
Usually rectangle pattern breaks in the direction of the original trend
INDICATION:-
Look for runaway gaps at the right end side of the chart
They usually break in three white solider pattern (three bullish candle with two gaps)
TRADE VIEW:-
Short-term
BUY @ 1705-10
STOP @ 1690
TGT @ 1735
For a longer period
BUY @1705-10
STOP @ 1660
TGT @ 1790
Point to be noted is that failed patterns have the tendency to earn huge money(potential)
But in HDFC case it does not matter
The lower bound of the rectangle that is 1667 is also a strong support level
Plus the weekly support level of 1693-94 is a strong support zone and till now is holding on
The upper bound is currently at 1801 which is far away from current levels (80 pts minimum)
Usually rectangle pattern breaks in the direction of the original trend
INDICATION:-
Look for runaway gaps at the right end side of the chart
They usually break in three white solider pattern (three bullish candle with two gaps)
TRADE VIEW:-
Short-term
BUY @ 1705-10
STOP @ 1690
TGT @ 1735
For a longer period
BUY @1705-10
STOP @ 1660
TGT @ 1790
Trade active
A GOOD REWARDING LESSON AFTER ALLBOOK PART PROFITS
!!ENJOY!!
Trade active
HDFC GIVING GOOD REWARDS HOLD ON FRESH BUY CAN BE BE EXECUTED
@1817
@1828
@1810
BTST
Trade active
Trade closed: target reached
HDFC DEV SHORT-TERM 1707 TGT 1735 RRACHEDINDIABULLS BTST @ 1178 TGT 1190 TGT REACHED
BHARAT FINANCIAL BTST 987 TGT 1000 REACHED
JK LAKSHMI CEMENTS BTST @407.50 TGT 416 REACHED
HDFC BANK (22 NOV) @1810 TGT 1865 REACHED
!!HAPPY TRADING!!
!!PLEASE LEAVE A LIKE COMMENT BELOW!!
!!WATCH-OUT for BTST/STBT IDEAS @ 3:20!!
!!EVERYDAY!!
Trade active
POSITIONAL LONG TERM TRADE ACTIVEFOR TGT PF 1790
Trade closed: target reached
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*future calls
*option trading (buying)
*index trading (options and futures)
*index update and oi analysis
t.me/tradersmojo
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