Get started
Dhiraj_Ahuja

HDFC (Daily) - Head & Shoulders Chart Pattern

Dhiraj_Ahuja  
NSE:HDFC   None
Chart Patterns Trend Analysis Wave Analysis HDFC Bearish Patterns cwave fakebreakout shortsetup
3
2
chartpattern trendanalysis waveanalysis hdfc bearish cwave fakebreakout shortsetup
HDFC (Daily) - Head & Shoulders Chart Pattern
Possible top fishing of the right shoulder
Seems to be the start of C wave

MACD downtick in daily and weekly timeframes (wave and tide)
Stochastic 14,3,3 is in negative crossover
-DI is above +DI and the ADX is above 15 in the Directional Movement Index (DMI)

Fake breakout of the 50 ema as well

Target 1 - 2668
Target 2 - 2364

Seems to be a good case for shorting
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.