HDFC Bullish Engulfing in 30 min

Feb 5

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.