@kgiridhararao143, I am not sure about the axis bank because the chart is not showing the clear trend.
kgiridhararao143
⋅
Can we buy now HDFC IN THIS PRICE
Dusifgogo
⋅
@kgiridhararao143, currently it is consolidating the previous sharp rally so i think you should wait to for the breakout of 1825-1730 range.
DILIP05
⋅
Can you help me understand how did you choose the accumulation zone? Through pivot points?
Dusifgogo
⋅
@DILIP05, Accumulation zone is where the stock halts and resist further downside , Hdfc made a probable bottom and halted for almost a month and resisted to go further down so probably there is going accumulation at the bottom.
DILIP05
⋅
@Dusifgogo, So, when this thing happens is it always going to break upside? or possibility is there for breaking down also?
Dusifgogo
⋅
@DILIP05, Double bottom formation is a bulish setup so we anticipate for a upside breakout..if it gives downside breakout than we call it as a pattern failure.
you should have such breakout candidates in your watchlist and do make entires at right time.