AbhishekHSinghCMT

HDFC- Trade the mirror correction from 1340-1350 Zone

Long
NSE:HDFC   HOUSING DEVEL FIN
384 views
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
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

Thanks for view on HDFC.
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@AMBRISH, Welcome
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AMBRISH AbhishekHSinghCMT
@AbhishekHSinghCMT, It is quite change in your posting, it has become simple to understand, Thanks a lot.
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@AMBRISH, No I was not giving trading strategy in simple buy & sell kind- you know very few come to the post back & say I made money when call moves as it was thought, but larger crowd they don't forget to put their remarks when one loses money on some idea.
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AMBRISH AbhishekHSinghCMT
@AbhishekHSinghCMT, I agree with you. till now i have not traded any of your trading strategy. Now i will start it .
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@AMBRISH, Great. Trade or don't trade, Its your wish.
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AMBRISH AbhishekHSinghCMT
@AbhishekHSinghCMT, Good Luck.
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