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WaveTalks
Feb 16, 2021 5:27 AM

HDFC- Running Close to the Tops (2775 to 2900 Target Done) Short

NSE:HDFC1D

Description

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Traders have to be careful as stock touched close to 2900 which was suggested on last idea.
Expected Move done

Trading Strategy
Strictly Valid only below 2900-2950 - Once stock starts downside move -
1st Target 2735-2750
Sell below 2735 for 2nd Target - 2620
Later Sell Below 2600 for 2365 & lower targets

Last Idea- HDFC

Trade closed manually

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21:01 Hrs / 17th Feb2021

Last @ 2805

Fall started from of 2900 - as suggested in the idea header -Running close to the Tops!!!

Shall not be able to follow up next waves. Use proper risk management if you are trading this stock.

Thanks & Have a nice week ahead
Trend AnalysisWave AnalysisBeyond Technical Analysiswavetalkstalkswave
Comments
gyanmuni
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If you could also explain in the chart why should we short just to help us in gaining knowledge? Thanks! for the idea.
WaveTalks
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@gyanmuni, That is a part of assignment & will be disclosed once it happens
WaveTalks
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@gyanmuni, From Traditional Analysis point of view - momentum indicators are not supporting the current up move -this is the reason why Plan - A / Plan-B & Plan-C was suggested on the last idea of HDFC
gyanmuni
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@AbhishekHSinghCMT, Thank You! I can see RSI divergence currently. That may be one of the reasons I think.

WaveTalks
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@gyanmuni, Correct
Akshay77
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Thank you❤
punterpk
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Congrats. Dropped today from 2806 hi to 2730.
guide733
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Excellent analysis and prediction Sir. Traded as per your reccos and was able to capture a few points.Stock has closed at 2805.35. Can we continue and look for targets as given by you till 2300.
WaveTalks
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@guide733, You can keep small milestones & trade- 2800 / Below 2800 for 2735-2750 & follow as suggested above in main idea
Niftydirection
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3150-60 would be its top in 5th wave right now
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