Large or Small, Rectangular Boxes are all over the Daily Chart of HDFC. Narrowing down for a support or a breakdown quite aggressively. Thrown with a couple of Head & Shoulders. A fall is in the offing, so, if it happens than on breaking of 1760 -> 1725-30 -> 1675-80. Index Heavyweight, so the dent will be quite big. If it takes a support at this levels, than this will mark a very important & critical support zone(bottom formation), given the proximity of recent lows happening since the month of June. BANKNIFTY looks weak on a shorter TF.
Clone the rectanglular box. Put it exactly right below and see the magic. It takes us very close to the levels last seen in the month of March & May. I'm not sure if this mayhem is possible, once again. At the same time, the almost identical boxes are not forming out of the blue either. So take this cloning thing with 69 pinch of salt & turmeric. But if it happens, then -> mainebolatha.com |I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
Clone the rectanglular box. Put it exactly right below and see the magic. It takes us very close to the levels last seen in the month of March & May. I'm not sure if this mayhem is possible, once again. At the same time, the almost identical boxes are not forming out of the blue either. So take this cloning thing with 69 pinch of salt & turmeric. But if it happens, then -> mainebolatha.com |I'm learning chart patterns as of now. You can plan your trades accordingly if you know how to trade these patterns.
Comment:
1760 -> 1730 (Low = 1728.4). Support or 1675-1680?
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1730 -> 1680 (Low = 1668.05). Further Downside only below 1640.
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1640 -> 1623. It almost did half the cloned rectangle. Directional and Big movements in this stock. Like, just look at today's candle. Mighty big.
