HDFCLIFE - descending triangle / pennant
Breakout alert ahead.
Self explanatory chart.
For educational purpose only. I am not a sebi registered expert. Trade at your own risk. Feel free to text & Share your views.
HDFC Bank reversed from a Bearish Harmonic Bat and now has activated a Bearish C Clamp as per Ichimoku study. It faces resistance at 1210 and it could retrace till 1130/1080 provided it does not breach above 1240
Harmonic Trading Patterns are formations based on Fibonacci Ratios which indicate reversal of a trend with retracement levels of 38-50-62% of the trend...
if banknifty doesn't hold 19330 then we can see some down side and also it has formed head and shoulder pattern and also it started to trade in very close range be careful.
only for educational purposes
