HDFC Bank - How to trade tomorrow
https://www.tradingview.com/x/8lGgBIGg/
I have taken HDFC Bank as an example and tried to answer first question as to how it happens? Hope every one of us will understand? But, for second question, how and when will it happen, I will post today itself more charts for you to understand the concept.
1. 1407 is the magical number for the stock.
2. In 14 days chart it is trading above 200 SMA, it is a bullish condition.
3. 1369 is a Gann Number and it makes the case all the stronger for bullishness if that number is not broken, stock fell from 1681 which is again a square number. So, it completes square of 4 numbers.
4. Remember my previous idea last week where I was continuously warning you that there is no support (or shoulder) on the right and it is likely to be made somewhere near 1392/97 Inverted head and shoulder is invoke as shown above.; on the left side it has already made strong support and strong support above head also there.
5. In the 14 days chart it is clearly visible that the stock has completed two complete waves and is now heading towards third wave. (Attached here is 14 days chart also).
6. Now, our story of 29th February 2024 will be completed tomorrow. Remember, price is retracing back from the high of 14th February 2024, But it can go till the low of this date also just to have full liquidity by the smart money.
7. As per William’s R% the stock is oversold, which makes the smart money a good case to take the auction up.
8. Now, the major question is how to trade tomorrow? Please do not trade immediately, wait for at least 3 hours. Let at least three hourly candles close above 1392 to mark the beginning of right shoulder. Let smart money play its game and things get cooled off and there the game starts. It will mark beginning of the support but doesn’t mean that things will start moving immediately. It will take at least 18 hours of trading to make the support perfectly valid. So, be patient, target is very big at least 1600, 1681, 1764 and more.
Please stay connected.
Disclaimer:
I am not a SEBI Registered Analyst and it is only for educational purposes. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/Losses
Let you grow. May! I follow you.
I have taken HDFC Bank as an example and tried to answer first question as to how it happens? Hope every one of us will understand? But, for second question, how and when will it happen, I will post today itself more charts for you to understand the concept.
1. 1407 is the magical number for the stock.
2. In 14 days chart it is trading above 200 SMA, it is a bullish condition.
3. 1369 is a Gann Number and it makes the case all the stronger for bullishness if that number is not broken, stock fell from 1681 which is again a square number. So, it completes square of 4 numbers.
4. Remember my previous idea last week where I was continuously warning you that there is no support (or shoulder) on the right and it is likely to be made somewhere near 1392/97 Inverted head and shoulder is invoke as shown above.; on the left side it has already made strong support and strong support above head also there.
5. In the 14 days chart it is clearly visible that the stock has completed two complete waves and is now heading towards third wave. (Attached here is 14 days chart also).
6. Now, our story of 29th February 2024 will be completed tomorrow. Remember, price is retracing back from the high of 14th February 2024, But it can go till the low of this date also just to have full liquidity by the smart money.
7. As per William’s R% the stock is oversold, which makes the smart money a good case to take the auction up.
8. Now, the major question is how to trade tomorrow? Please do not trade immediately, wait for at least 3 hours. Let at least three hourly candles close above 1392 to mark the beginning of right shoulder. Let smart money play its game and things get cooled off and there the game starts. It will mark beginning of the support but doesn’t mean that things will start moving immediately. It will take at least 18 hours of trading to make the support perfectly valid. So, be patient, target is very big at least 1600, 1681, 1764 and more.
Please stay connected.
Disclaimer:
I am not a SEBI Registered Analyst and it is only for educational purposes. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/Losses
Let you grow. May! I follow you.
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.