AbhishekHSinghCMT

HDFC- Trade the mirror correction from 1340-1350 Zone

Long
AbhishekHSinghCMT Updated   
NSE:HDFC   HOUSING DEVEL FIN
13
If you divide into 2 equal parts -to larger extent its a mirror image & hence we have the opportunity to see upside atleast till 1460-1485 zone.
Since 1464 highs it has been undergoing in complex correction W-X-Y completed one set at 1183 lows & bounced hard along with index to recent high@1432.
Looks like falling in impulsive manner - if holds in the zone 1340-1350 & starts moving above 1355 then likely we have a trading opportunity for the above mentioned desired zone.

Trading Strategy
If prices fall in the zone 1340-1350 & bounces above 1355 then putting stops below recent low we can look for target 1460-1485 zone.

You would love to read my previous update

Call did not activate below 1180-1200 zone & bounced hard till 1430's
Trade closed manually: Closed

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India

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