HDFC LTD is trading in range and has made Tripple three 5 Elliott wave pattern in which waves W, X, Y, XX, Z are formed.
This pattern usually a little shifted in opposite direction of preceding trend (here it was down) hence you would see dotted orange trend lines.
Entry near 1520-1490. If on hourly chart closes below 1483 exit. Target 1690(Unfilled gap near 1705) by expiry,1845, 2000-50+.
Max pain for may series at 1600 right now 1500 major support as per option chain.
This pattern usually a little shifted in opposite direction of preceding trend (here it was down) hence you would see dotted orange trend lines.
Entry near 1520-1490. If on hourly chart closes below 1483 exit. Target 1690(Unfilled gap near 1705) by expiry,1845, 2000-50+.
Max pain for may series at 1600 right now 1500 major support as per option chain.
Comment:
Didn't break 1483 on hourly chart trade activated near 1500
Comment:
HDFC Hit 1560 party just getting started
Comment:
HDFC high 1731 nearly 250 points given today book 25% and hold tight for 1800+
Trade closed: target reached:
HDFC high made 1859
