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HDFCBANK Elliot wave analysis for 04/01/2018

NSE:HDFCBANK   HDFC BANK
HDFC bank may fall further to 2070 levels, It has just finished a second Impulsive (B) wave according to the Fibonacci and Elliot wave analysis, Thus Dragging down bank Nifty too with it.
Comment: Wave (B) has taken an (ABC) correction and is testing strong resistance at 2120. ABC correction waves can be complex. If it fails resistance. The (C) correction will be imminent.

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