HDFC BANK LTDLong
Another Blue-chip stock Breakout
Updated
Another Typical price pattern getting ready for sharp move on the upside.
HDFC BANK
Price Retraced from All time High, Retracement is 18.5% from top approximately.
As of now price is forming Higher-High structure on Weekly chart's & now Broken Out of Triangular pattern decisively.
Price movement will be sharper once we closed above All time high on Daily basis.
Interestingly there's a Clear Flag - Pole pattern visible on weekly chart's too.
As of now above pattern is not clearly confirmed since All time high Breakout Awaits but if
that happens then expect strong long term really resumption on this script.
MACD showing clear Positive crossover above zero line along with steady volumes.
RSI showing diversion breakout too. Above 60 level very firmly.
50EMA -Stop Loss Closing below this on Daily Basis.
Not giving any target's.
Expect Steller returns if All Time High taken out decisively on Weekly time frame.
HDFC BANK
Price Retraced from All time High, Retracement is 18.5% from top approximately.
As of now price is forming Higher-High structure on Weekly chart's & now Broken Out of Triangular pattern decisively.
Price movement will be sharper once we closed above All time high on Daily basis.
Interestingly there's a Clear Flag - Pole pattern visible on weekly chart's too.
As of now above pattern is not clearly confirmed since All time high Breakout Awaits but if
that happens then expect strong long term really resumption on this script.
MACD showing clear Positive crossover above zero line along with steady volumes.
RSI showing diversion breakout too. Above 60 level very firmly.
50EMA -Stop Loss Closing below this on Daily Basis.
Not giving any target's.
Expect Steller returns if All Time High taken out decisively on Weekly time frame.
Note
Stock may lead the Bank nifty rally here on. Keep close.
Note
We are heading for All time High breakout. 🤞Note
Done with Shake-out . Ready for break.Note
Accumulation by large hands completed, as per my view. Expect volume breakout by Friday.
Note
Keep close watch here on.Note
New High's ! Hope everyone accumulated on lower level's.
Note
Deep in profit. Keep Holding.
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.