swapsachin

HDFC Bank in correction mode, wait for the right moment to short

Short
NSE:HDFCBANK   HDFC BANK
HDFC Bank has started the correction, we are about to complete the first leg of correction, however what we gonna see next is a sharp X wave towards up and then another leg of correction. I haven't marked all the details on the chart, since I use other charting software where I have marked step by step details on each wave count and how we reached there. For now wait for the wave X to be completed and then let the next leg of correction kicks off, where you will have the opportunity to short. As far as the targets towards downward movement is considered I see first target as 1470 if the wave Y turns out to be traingle, if Wave Y turns out to be Zig-zag then expect further downfall to 1470. Good Luck!

If you are interested in learning Elliott waves contact me at 8wavestosucessatherategmaildotcom. Planning to start my first batch of Technical Analysis using Elliottwaves soon.

Regards
Sachin
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.