HDFC has been pretty resilient even in the NIFTY carnage..
looks like it is reaching a short term top an moving in a rising wedge.
any break out of the wedge can see a decent correction..
HDFC BANK had a gap down today and never recovered suggesting weakness and also has closed below 100 dma.
but has closed near trendline support of the rising trendline of the rally fom october 2018..
break below the trendline can take it to 200 dma in time.. use pullbacks to sell around the fgap formed today
with HDFC Bank becoming weak, expecting bank nifty and...
Bearish Pennant pattern breakout with high volume. MACD gone below zero. The Length of Pole (AB) is the target. Monthly and weekly with bearish engulfing candles.
Well we are in a correction mode.
Past statistics shows almost when ever June high of nifty out smarts January high rest of the year it used to be bullish(In most cases)
No doubt nifty is correcting for super rich taxation but for how long?
Grab the valuable stocks at near the PRZ zone,don't mistake it is a bear market.
Most valuable stocks will be available at...
Query : View about NCC
Answer : Weekly & daily charts confirm the down trend. If price goes below 86, then it will reach the next support at 81, 76 & 68.
Note : Post written as a reply for the query from a regular follower.
Axis Bank was trading in a rising trend channel. The stock moved within the channel and got rejected within the similar range at around 820 forming a double top.
The stock first broke through the rising trend channel support at around 770 and followed it up with a retracement to the support line. The stock then broke below the double top neckline at 760. The...
