Hi friends today i am sharing a very simple and easy to understand idea on Hdfc bank and for this trade idea i choose three hour time frame chart so as you can see that price break a marked swing resistance from where price got rejected after first support bounce and made a swing high there but in second attempt price break that resistance and close above in yesterday's session so as long as the price sustains above this swing resistance there is every possibility that it will move from here to the marked gap area and break it and fill the entire gap and re-establish it's all time high too again for this trade below 1600 close seems a good support to me on similar time frame.
This is not a trading idea in any way but it can definitely help you guys to get a view about Hdfc bank and i hope you will like it. Have a Good Trading Day.
Best Regards- Amit
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Yesterday price reclaim a close above mentioned resistance and trading strong today in red markets too, i hope we can see an entry in gap zone very soon and now that resistance will probably work as support. Apart of this after publish this idea price went exactly to mentioned support and got a good bounce from there two times in diffrent sessions that was a good opportunity for fresh additions too. Thanks for reading and supporting my idea mates.
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Price reached 1698 from 1641 although i have 1600 entries too as you can see in this update how i was able to take that entries only i extended flip zone channel towards right so you can have a better view that how perfectly price respected that marked flip zone as support this that earlier was resistance for price, So the main point i want to share with all of you that first time after this publication price entred in marked gap zone with bullish strength and sustaining well so far so if we will get a close in gap zone then soon we can see the marked target and this zone can act as a support too this time. Thanks for reading and supporting my idea mates.
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Trailing stop loss update and Partial profit booking- Price reached 1727 from 1640 published price so i am considering this as good gains apart of 1600 entries as i wrote in update above too so from here i am taking my half trading position gains here i for rest trading position i will move my stop loss to entry price.
Technical point- As we can see that price filled entire gap area and currently trying to breach upper band of gap so if price will give a close above 1720 today then soon we can see marked target in coming sessions.
Thanks for reading and supporting my idea mates.
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Hi mates sharing a second last update for this idea next i will update only on target, So as i updated above that if price will close above upper band of gap resistance zone (1720) then it it will be good for price and we can see marked target soon in coming sessions so i am happy to share that today price reached 1760 from 1640 levels and gained 7.3% so far from overall taken target (1794) of 9.4%. Overall this idea going good after publishen and follow the chart properly for this i have tried my best to keep you all updated as you can read in above updates too. When a counter like Hdfc bank runs so well then it's enjoyement is something different as it makes the sentiment of the entire market positive, Thanks for reading and supporting my idea friends.
Trade closed: target reached
Taken target for this idea completed yesterday on 25Th November price made high of 1803 which is higher then target so closing this publication will try to come another one for it. Thanks for reading and supporting idea friends.
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