HDFC Bank has given a beautiful breakout from the descending triangle, then retested and again risen. Today it has resisted 1511 level. If price falls we have support of 50 EMA just below. A support from the 50 EMA can be traded for the first target of 1511. If HDFC Bank rises from current level and closes above 1511 to give a breakout from 1511, it can be traded...
HDFC has given a breakout from falling wedge and has been taking support from 50 EMA . Even after the falling wedge breakout, 2605 seems to be a rejection region where one or two gap up openings could not sustain. A closing above 2605 with good volume can be traded for a swing or positional trade for first target of 2768 and second target of 2888. Some good...
Using the concept of Support and Resistance one can understand the chart. Additionally, RSI going above 60 with some good volumes suggest the buyers interest in the stock, once can enter with a positional target of 800 - 900.
In 1 day stock is nearby its lower trendline, Currently closed 20Daily and 50Daily EMA as shown on 1st chart. Also standing on Demand zone.
In 2Hrs timeframe it has completed 38.20% retracement and also nearby 100 ema.
The Indicator Used:
PANEL 1:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) On Lower Time Frame Charts.
2) Valuation...
In 15 mins stock is nearby its lower trendline, Currently closed to be undervalued as shown by the valuation band in 1st chart. Also standing on Demand zone .
In 2Hrs timeframe it has completed 78.60% retracement and also nearby 50 ema .
The Indicator Used:
PANEL 1:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) On Lower Time Frame...
