Hdfc bank spot at 1720
Weekly time frame
Symmetrical triangle pattern
Horizontal resistance as per previous life high reversal levels,
over here life high levels would play an important role,
going ahead keep watch on daily price action, if not able to break above life high levels and sustain counter can give good retracement, of 5-7-10%
counter have already give good rally from 1460 to 1720 levels around 20%
keep watch, above life high levels if we see consecutive close than the view gets invalid and below that we can play it accordingly
Weekly time frame
Symmetrical triangle pattern
Horizontal resistance as per previous life high reversal levels,
over here life high levels would play an important role,
going ahead keep watch on daily price action, if not able to break above life high levels and sustain counter can give good retracement, of 5-7-10%
counter have already give good rally from 1460 to 1720 levels around 20%
keep watch, above life high levels if we see consecutive close than the view gets invalid and below that we can play it accordingly
Trade closed: target reached:
1720 to 1470
250 points down
250 points down