HDFC RECTANGLE FORMATION BREAKOUT ON THE CARDS

SUMMARY:-
-stock has continuous support@2120
-with a rejection zone of 2280-2250
-once a close and breakout above 2280 is achieved
-a target towards 2400-2430 will open up
-stock is consolidating and trading in the range of 2120-2280
-since rectangle is an continutation pattern
-it should break in the direction of the previous trend which is a breakdown
-if such move is established then a move towards 2000 cannnot be ruled out
-but on the daily chart stock seems to form a triple pattern
-which is a reversal pattern bias is more towards a breakout on upside
-in each case trade must be executed after breakout

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*channel view shared early and updated

DISCLAIMER
*my views are not trade recommendation
*please consult your financial advisor
*do not over trade
*manage risk and manage risk appetite

Trade active:

HDFC LOOKING GOOD
stock did not fall in recent correction of market
today it is important for the stock to close above 2280 in jun fut
if does we will have a range break of 170 points

Trade active:

FURTHER UPDATE
NOW RIDING THE TRADE
TARGETS LOOKS GOOD FOR UPSIDE NEAR 2380-2450 ZONE

Trade active:

TILL NOW 2350