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??
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??