HDFCAMC trading in channel
Updated
HDFC AMC is trading in a channel and is negative short term - Short term target is 1974
If you see the channel bottom there is a heavy buying going on so breaking down of the channel on downside is a low probability. In case it breaks then level is around 1500 - 1000. (Closing below on monthly basis)
Long term target of 3300 is still intact if it doesn't break channel on lower side.
If you see the channel bottom there is a heavy buying going on so breaking down of the channel on downside is a low probability. In case it breaks then level is around 1500 - 1000. (Closing below on monthly basis)
Long term target of 3300 is still intact if it doesn't break channel on lower side.
Note
unfortunately the channel is broken and we can see new lower targets in coming months. Be cautious and 1706 is crucial level
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.