HDFC Bank | bearish next week | below 1400 investment level

Mar 3, 2024

There's a lot of narrative being played around HDFC ( break fds and put in HDFC, best stock of the decade etc ). Very naive way of thing. A quick view of the current levels

Post the major breakdown ( the red candle )
The yellow arrows show the bullish weeks, you can see a bullish pullback every alternate week almost.
The pink arrows show a bearish pullback after every bearish week with a very sharp correction.
this the story post breakdown. There's no way to show that this will stop until fed cuts rates.

Given it was a bullish candle last week, it's high probable to go down this week. Keeping tight sl can give good shorting opportunity. The bear attack will happen all of a sudden and will be super quick. avoid longs and wait for 1400 or below for long term investment opportunity. That might give a decent nifty like cagr in the long term.

PS: I reserve the right to be wrong. not SEBI registered.
The information on this platform/document is general and not financial advice. It is not a substitute for professional advice. Before making investment decisions, consult a qualified SEBI registered financial advisor to assess your unique financial situation and goals, as investing carries risks and past performance doesn't guarantee future results.

Mar 6, 2024

Note

Reversed to Buy as per Indicator signal

Mar 20, 2024

Note

Exited with marginal profit as it's toggling against the wall indicator ( support )

May 8, 2024

Trade closed: target reached