As we can see HDFC is in support zone . andin 15 min we can see a morning star and in 30 min it create a bullish engulfing pattern. But here we can see volume was low.
NOTE: you can't take any trade based on pattern. you have to focus on volume also. Due to volume the pattern can fail sometime.
Fopr more confirmation we will create a red rectangle. after breaking that rectangle we will take a buying position for 1st target of 1460.
Support: 1434
1st resistance:1460
2nd resistance:1478
In intraday Don't short your position before break of 1434 support .Market may consolidate near support area.
Avoid to take any position between red rectangle.
NOTE: you can't take any trade based on pattern. you have to focus on volume also. Due to volume the pattern can fail sometime.
Fopr more confirmation we will create a red rectangle. after breaking that rectangle we will take a buying position for 1st target of 1460.
Support: 1434
1st resistance:1460
2nd resistance:1478
In intraday Don't short your position before break of 1434 support .Market may consolidate near support area.
Avoid to take any position between red rectangle.
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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.
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.