HDFC- 2777 Will it Stop!!!

• Multiple Tops on lower degree have halted stock close in 2750-2777 zone
• Push Above 2780 – can take stock to new highs 2850/2950
• Careful at the Tops later as current geocosmic signs at the moment may trick you. Always be
cautious & false breakouts & breakdowns are common phenomenon in this period
• Risk Management is most important so traders should know first how to use stops before even they
start trading & use trailing method to protect your profits

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• Trading Strategy
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Plan A –
Buy Above 2780 for 2850 & 2950

Plan B –
Crosses above 2780 & fails to reach the targets as mentioned in Plan A or only partial
target is done at 2850 & drops back below 2780 – Become cautious on long or buy positions-That is
also a plan

Plan C-
Sell below 2600 for Target – 2365 & Below 2365 to 2200 which will be 200 DEMA support

Comment:

Careful in Nifty at 15200

Comment:

15:48 Hrs / 9th Feb2021

Last @ 2747

Crossed above 2777 but failed to reach 2850 as well - is this warning sign & false breakout as suggested in the main update above

Trade active:

20:35 Hrs / 10th Feb2021

Assuming HDFC moves above 2777 - Just take care that it touches 2850 as failing to do so & falling below 2775/2777 is the 1st warning sign & if breaks below 2600 then fall can be deep to 2365 / 2200 as suggested over the Plan- C

So, please read those plans carefully & trade accordingly.

Thanks

Comment:

11:49 Hrs / 12th Feb2021

Last @ 2800

Above 2775 - You need to trail above 2775 & avoid buying if falls below 2775 -have suggested

Trade active:

12:08 Hrs / 15th Feb2021

Last @ 2838

2850 -Target Done. Day High @ 2855

Next Buying only if sustains above 2850 / 2855 else we avoid buying. Thanks

Trade active:

10:14 Hrs / 16th Feb2021

Last @ 2875

Almost both targets done close to 2900 ----------Day High @ 2896