HDFC BANK POSITIONAL BREAKOUT
Updated
HDFC bank is looking very bullish after giving a close above resistance of a parallel channel after 29 months so we can consider it is a bullish breakout on monthly candle closing basis, later on this chart you can see that it retested it's previous breakout zones too successfully so I consider it is positional breakout on monthly chart and plotted a Rising resistance for getting an idea what targets we can see in coming months and it is near about to 2000-2050 zones in trade we can take a stoploss of 1590 levels below close on monthly candle basis, seems a good risk to reward positional trade on a very strong fundamental stock.
TARGET AND STOP LOSS
𝑵𝑶𝑻𝑬- 𝑶𝑵𝑳𝒀 𝑭𝑶𝑹 𝑬𝑫𝑼𝑪𝑨𝑻𝑰𝑶𝑵 𝑷𝑼𝑹𝑷𝑶𝑺𝑬
TARGET AND STOP LOSS
𝑵𝑶𝑻𝑬- 𝑶𝑵𝑳𝒀 𝑭𝑶𝑹 𝑬𝑫𝑼𝑪𝑨𝑻𝑰𝑶𝑵 𝑷𝑼𝑹𝑷𝑶𝑺𝑬
Note
KEEP AN EYENote
OK SETUPNote
NICE MOVETrade closed: stop reached
DUE TO UNCERTAIN FALL IN IT
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