NeeteshJain
Short

HDFC BANK - EXPANDING TRIANGLE (Wave E in Progress)

BSE:HDFCBANK   HDFC BANK LTD.
After trending channel breakout, the price action has got into expanding triangle. It shall breaks down towards previous resistance area and confirm it with new support levels.

Target: 1205-1200
SL: 1250
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Sir
In Chart you are mentioning Sell below 20 SMA, whereas on chart the Indicator drawing shows 20 EMA. Your views please.
Reply
InsiderB TOP anilpalan
That might be typo, anil !
+1 Reply
@Anilpalan Sir, it was just mistyped and it is EMA only. Infact, Tradingview does not provide SMA indicator too. Both Moving Averages help determining the trend and what I noticed on daily chart of HDFC BANK that the price action was trading below 20 EMA/SMA that signals a short trend change and a sell. I appreciate your curiosity and observation. Now, I'm looking forward it to work well tomorrow. Regards

Reply
@Insider B Yes Sir, you were right. Good Guess :)
Reply
Thanks, @Neetesh and @InsiderB
Thanks for your replies and appreciate your views.
+1 Reply
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