nirav5

HDFCBANK, Can we expect some recovery

nirav5 Pro Updated   
NSE:HDFCBANK   HDFC BANK
1
If the 5th wave is completed with the previous support of 1210 - 1225. We can expect some upside recovery.
Corrective waves shown as a,b,c are just the directive guidelines.

Kindly confirm at your end before initiating the trade.
Comment:
That was real quick
Comment:
If I am right, corrective 'a' wave was divided into 5 parts as shown in the chart. Although it's quite early to predict 5-3-5 correction. Possibly we can have 3 parts of 'b' wave coming up next.

Please do take channel resistance into an account as well.
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.