HDFC AMC is showing signs of trend reveral on weekly timeframe.
Since 2019, it is taking support and had created a support zone of 1970-2080.
This may be the right time to enter for long term, but I'm not interested in it yet.
Till now company fundamentally good.
But my concern is that it has hammered multiple time to support zone. So my eyes are on upcoming financial results,
if results are good then it will be ok for me. It is looks good for short term swing trade.
It has also formed a bullish engulfing at support and the last week's volume looks good.
So there is a chance that it may turn around from here slowly and steadily and approach its resistance zone.
This post is form information purpose only.
Since 2019, it is taking support and had created a support zone of 1970-2080.
This may be the right time to enter for long term, but I'm not interested in it yet.
Till now company fundamentally good.
But my concern is that it has hammered multiple time to support zone. So my eyes are on upcoming financial results,
if results are good then it will be ok for me. It is looks good for short term swing trade.
It has also formed a bullish engulfing at support and the last week's volume looks good.
So there is a chance that it may turn around from here slowly and steadily and approach its resistance zone.
This post is form information purpose only.
Comment:
It gave strong bullish move in single day,
but it failed to sustained and it formed a bearish pin bar candle on weekly tiemframe.
And it was with good volume.
Currently it have came back to it's support zone.
Let's see how it moves further.
but it failed to sustained and it formed a bearish pin bar candle on weekly tiemframe.
And it was with good volume.
Currently it have came back to it's support zone.
Let's see how it moves further.
Today it made day high of 2480,
move 8.5%+ in a single day,
also highest volume after 29th Sep 2021.