HDFCBANK
can be shorted with immediate target of 1016.90. Below this level 1002 looks to the important target below which current uptrend will be completely change.
StopLoss should be used as 1074-1078 above which original trend continues.
Current pull back has been on falling volumes. Although that is typical of any flag structure but this should pull it down to lower range of consolidation.
There is bearish divergence on 4hour chart with rising price and decreasing RSI. This rise has been on low volumes and has RSI divergence so looks like a pull back is in making.
Pls support with likes on the idea.
Comment:
Opening rate target should be 1031-1035. If it stays below this for 5 min, continue for next target on short
Order cancelled:
HDFCBAnk never reached our low price and moved up, SL triggered. Pls cancel
