1305.50 above Bullish HDFCBANK.
Rising Channel
... Resistance number 1305.
Important to close above it.
Downside: 1108 if taking resistance at given point.
Upside above close 1305.50:
Targets: 1404.25 and 1501.50
at that time stop loss close base: 1225
Education Purpose Only
Weekly has a double bottom and a recent Higher High. But, predominantly, it's a Downtrend. There is a wide bearish RSI divergence too. Price is hovering at an important level.
In Daily, nothing is supporting. There is a break of Trendline, but not convincing.
75 min is interesting. There is Head and Shoulders pattern, EMA crossover and a clear candle...
If it breaks below 50 EMA on 30 mins chart and sustain then it can go up to approx. 162 with stop loss of 182 and further down to 155 & 145.
if it respects the 50 EMA on 30 min chart then it go up to 182 with stop loss of 162 and above 182 it would create new highs.
At each support or resistance watch for candle stick patterns like continuation pattern or...
AMARAJABAT - BUY
Current market price: Rs. 658.40
Stop loss : Rs. 646.60
Target : Rs. 728.4
Risk Reward: 1:6
On daily chart there is strong support, buying momentum increases and pullback is weak.
There was double bottom formation and it gave wonderful return after that.
According to trendline too there was breakout.
Now it is at life time high. Any correction would give buying opportunity
Naukri is already trading at near recent life time high.
Seems like it is in a range, there are was huge selling volume on 8th nov.
It may retract to lower levels on previous supports or as per Fibonacci levels.
Need to wait for the buying opportunity
HDFC AMC making higher high & higher low, it is in uptrend since long time. Expecting it to move further.
I would like it to buy at next correction which would next higher low :), will wait for that. Current levels also good to buy if you want to hold it for longer time period.
There has been single side move on weekly timeframe since Apr 2019. Now expecting correct to happen at least till 38% (530) or 50% (494) Fibonacci levels, that would be good buying opportunity.
But not sure it would come to that level or not.
On weekly chart it is closed below 50 EMA
