HDFCBANK - Trending Down

It is been observed on the daily chart that the price action is forming lower highs and lower lows from Higher Highs and Higher lows, indicating a change in trend. It is further dip down and next support levels.

Target 1- 1725
Target 2- 1700
SL - 1775
Trade active
Trade active
Comment: SL revised to 1795 levels
Comment: Updated Chart:
Trade closed manually: HDFCBANK call called off and now can be reversed for 1800
Have you figured out what went wrong with this call/trade?
NeeteshJain Tapovan_Vashisht
@Tapovan_Vashisht, It indicated strong trend as it did not need to come down to support levels for more buyers and it exactly performed the same once it breaks the downtrend and went up to create higher high. Thanks
You are very good trader , and almost many of your stop loss are revised , I like it because you dont lose until your stop loss is revised
@shiv2798, Yes, I have revised SL in last few trade setups in order to be in a down trending trade setup to the extent it changes the trend. In this trade setup, the trend will change once we see a Higher High (HH) instead of Lower Highs (LH) i.e. a break above 1780 levels. Due to which I'm adjusting my SL to be in the trending trade setup and not to prove a point. Regards
shivaji.tejankar11 kishorejakkalab
@kishorejakkalab, Higher High, Higher Low, Lower High
+1 Reply
Reliance, HDFCBANK looks like they will drag index too.
+1 Reply
@nirav5, Yes, it shall happen tomorrow. Well observed. Thanks
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