HDFCBANK is showing a negative divergence at RSI & ELLIOT. RSI is at highly overbought zone . Trend Reversal Candle stick pattern has formed in INTRADAY CHARTS in almost all TF.
One can short at Cmp of1680
TGT- 1620&1590
SL- 1702
Risk Reward 1:3
So its worth taking!
Trade active
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Comment
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Note: Do your own study before making any position and trade according to your Risk Appetite.
Trade closed manually
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Exit at cost as i have exited this trade and i dont like the trade setup as Future is in discount and Expiry is near so we have to unnecessary pay 9 Rs premium. Thats why AVOID or EXIT!
Trade closed manually
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Trade Setup was right, as it made a high of 1716 but wasn't able to close above 1702 mark then corrected and made a low of 1645.
Reason to close the trade was that future was at 8Rs discount so unnecessary we have to pay that discount as Expiry was near.
Comments
ms555
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@shiv2798, Hey but i am your master & you dance in tune of my LASH lion. So respect your Master.