Wolf-AD7

HDFC set for re-continuation of Uptrend

Long
NSE:HDFC   HOUSING DEVEL FIN
Clear Cup & Handle Formation in HDFC , followed by a small breakout of the Handle.

Cup & Handle is a continuation pattern, which suggests that the blip in HDFC's upward trend may be over, and the uptrend is likely to now continue.

Confirmations of the pattern formation/ trend analysis are (1) supported by a bounce back off the 2370 support level , and (2) Bullish Divergence forming between the increase in RSI and decrease in price.


Comments

Retracement with a build up
Let us tread cautiously through observation of chart pattern.
Reply
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