Trying my luck in setting targets and SL for swings.
Notes:
Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.
Notes:
-
HDFCAMC
has been in a descending channel 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 bullish 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.
Trade active:
Still waiting for the entry.
Trade active:
Closed pretty decently above the channel. Currently in Accumulation zone..
Comment:
Still taking the top of the channel as a support zone (which is favorable) although the candle itself is not good.
Really hoping for a close above 3100.
Really hoping for a close above 3100.
Trade closed manually:
SL Hit.
Should break the mini-channel consolidation soon to start the move up.