- NSE:HDFCAMC has been in a since the start of this year.
- This is the 3rd testing of the top channel and the candles are yet to show a clear rejection with a string shadow which would mean a breakout is still an option.
- If it does break, I guess a retesting of the top as a support would be done near the 3120 levels which would be a good entry.
- SL could be placed at 3000 level quite conservatively (which would be around 3.8% from the entry).
- First target could be 3260 (4.5% from entry - Slightly more than 1 RR) and final target at 3365 (7.8% from entry - almost 2 RR).
Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.
Should break the mini-channel consolidation soon to start the move up.
Really hoping for a close above 3100.