HDFC Bank: Approaching Long term top

Jul 24, 2016

HDFCBANK

The impulse that started in early February is nearing completion.


We are already seeing signs of RSI divergence on daily charts.


More importantly, it is also completing 5 wave cycle, as seen on this weekly chart.

Most likely scenario is that we will see a final spike to 1260-80 zone followed by an extended downturn.

Jul 25, 2016

Note

Exit longs in HDFC Bank

Aug 1, 2016

Note