Stock gives breakout of Head and Shoulder Pattern on weekly timeframe and price is giving breakout, just wait for weekly closing to enter.
Now this stock has the higher chances of moving upwards Best entry price around 190.
CMP : 181
Target : 219
Target 2: 274
Stoploss : 163
This is not a buy or sell call, this analysis is shared for educational purpose.
Did it just break the Jan 2015 price level !
If it can sustain this, 350 - 388 could be probable price levels that can be seen.
SL around 199
Please note results / earnings will be declared tomorrow for this stock and also the upcoming interim budget on Thursday, so expect some volatility.
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To improve is to change; to be perfect is to change often.
As per todays selling seller may look for profit booking for tomorrow if gap up opening is there.
Resistance at 43585, if fail may retouch to 43400
Support at 43243, If break then more selling can be seen
Sellers are more active then buyers, Buyers can get active if BN trade above 43600 for more time.
Note : Do your own analysis before making any trade or invesment.
- Gap opening can be expected
-if gap up then bounce back till 44700 to 44750 may be touch
-if gap down then then then it can touch 44200 to 44300
-44500 to 44400 may be important range level keep an eye on traps or fakeouts
Notice : Fridays have big up and down moves
Note : Do your own analysis before taking any trades or investments
HDFC BANK has been consolidating for a long while near its resistance areas. This is showing that the sellers are losing their grip on the supply zone and buyers are willing to push the stock ahead and change the market structure.
The breakout has not yet happened but the signs look positive hence keep it on your radar.
Disclaimer - Please take positions as...
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I am not SEBI registered person and this is not an investment advice and also please note this is only for education purpose. Also note we can use this research in my own portfolios. So don't influence yourself from this research. Please note before investing according to this educational research, please do own research and also do take advice from...
Medium-term Swing Trade (2-7 weeks)
(Purely Price Action based trade)
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It is approaching a very strong supply zone of Rs. 170-177 where it has faced rejection multiple times previously.
If this zone gets broken with a good momentum and volume the following trade...