B-Power

(Intraday)Sell! HDFC BANK

Short
NSE:HDFCBANK   HDFC BANK


1. Recently, HDFC Bank broke Trend Line .

2. On Drawing Cypher Pattern on the chart
XB=0.50 , AC= 1.28 , Assuming XD=0.786 D Point =900(Currently on not possible), But, HDFC is on Downtrend level.

3. Currently , Price may retrace to 61.8 Level (1087.65), before going up

Sell Below 1102 Target: 1095.65 , 1087.65 Stop Loss: 1110.25

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Gaurav Bajaj
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Trade closed: target reached: All target achieved
Comment: Tomorrow Price may rise to 1087. Then again fall may start.

Comments

What is the next target for shorting..
Reply
B-Power sivasou008
@sivasou008, Thanks for commenting. HDFC BANK today's day candle indicate market is indecisive. But , I personally observed that on today's 4 Hours chart. Volume on the red candle is twice of the green candle. Price has just fallen 44% from last peak and low. I believe that HDFC bank may fall up to 1020 before going upside which is an important level. As we know maximum fall/ rise we saw in HDFC Bank is of 2-3% in normal days. SO, SELL BELOW 1054 TARGET: 1050.80 , 1047.20 , 1043 Stop Loss:1059.20
Reply
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