Short
HDFC Bullish Rejection
The weekly chart of HDFC is exhibiting rejection of the bulls for the last five weeks. This can also be seen in the rising wedge which is forming on the Daily chart.
Further, this type of price action is also forming at the completion of 61.8 AB=CD harmonic pattern.
The thesis is bearish with target of point B of the harmonic pattern at 2507.
Further, this type of price action is also forming at the completion of 61.8 AB=CD harmonic pattern.
The thesis is bearish with target of point B of the harmonic pattern at 2507.
Trade closed: stop reached
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.