TangoTrader22

Probable EW count before Q4 results

NSE:HDFCBANK   HDFC BANK
At the onset, I want to make it clear that EW count on hdfcbank is a tough job because of the exponential nature of the price curve. What i have presented below is just a thought experiment. No trade is intended or suggested.

The chart here is the post demonetisation rally (jan 2017 onwards). 3 waves seem to be complete with wave 4 underway. My basic premise is that if wave 4 does a ABC correction then we could be starting wave C very soon (as soon as monday). This could take us to 1800 (200 DEMA ) and below.


Probable Long term EW count for hdfcbank is posted below



?? Chart is for educational purpose only. No trade is recommended or suggested??