HDFC (Daily) - Head & Shoulders Chart Pattern

Description

⋅ Dec 13, 2021 12:28 AM

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

Comments

ASTA_Trading

⋅ Dec 13, 2021 1:34 AM

In depth Analysis ..Always
spot on..your postings has helped in to develop confidence in my trades.. Looking forward for many more..

Dhiraj_Ahuja

⋅ Dec 13, 2021 1:54 AM

@ASTA_Trading,
Always welcome my friend