UNDERDOG-29

end of wave 4 sideways correction.

Long
NSE:HDFCBANK   HDFC BANK
2 weeks before we had a doji candle oon the chart followed by a bullish reversal candle which closed above previous 2 candles high and which is followed by another bullish candle this week which is about to break 0-b trendline on the upside.Clearly momentum is building in this stock for a wave 5 tgt of 1640 and 1760,invalidation level is 1400,any 2 successive close below 1400 will terminate the wave 5 move.Wave counts has been shown on the charts.

As risk reward from this price is 1:1 trade cautiously and manage trade size accordingly.

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