HDFC [Dragonfly Doji ]Dragonfly Doji
open TRG
A Dragonfly Doji is a type of candlestick pattern that can signal a potential reversal in price to the downside or upside, depending on past price action.
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Disclosure : I am not SEBI registered. The information provided here is for Education Purposes only. Consult your financial advisor before taking any decisions
Dragonfly
AMBUJACEM SUPPORT + DOJI
if the confirmation candle is done then bullish .
Disclosure : I am not SEBI registered. The information provided here is for Education Purposes only. Consult your financial advisor before taking any decisions
Nifty50 Dragonfly Doji Candle Bearish Target 18052Dragonfly Doji Candle Trend Change
Nifty 50
Long Bullish Run Ended
Pull Back
RSI ADX Entry
Fib Retracement
HDFCBANK | Reversal from Trendline + 200 EMA support - 15% plusHDFCBANK | Reversal from Trendline + 200 EMA support - Looks potential for 15% plus
CMP : 1525 (Dip : 1480)
SL : 1390
Target : 1730
Almost 1:3 risk reward setup
The advantage with TCS, HDFCBANK, RELIANCE kind of stocks is they move genuinely
Some bad trades are allowed, we won't go broke by holding
Can allocate little above our usual allocation.
These comforts are applicable only for cash market not for F&O 😃
Trend line support and DragonFly DojiStrong trendline support
Each time it came near trendline it took to support, formed a Dragonfly Doji candle, and then reversal happened.
Points to consider
1. Strong trendline support
2. Dragonfly Doji
3. 50 SMA support
4. Price rejection near the trendline.
5. Limited risk
Buy Above sustaining of previous day high.
Target 1455/1480
Wait for the confirmation, use TSL, and wait for the targets.
(Only an Educational view)
HDFC : Dragonfly Doji has appeared sideways Price movement in February has led to formation of dragonfly doji. It has appeared sideways. Technical indicators such as RSI suggests continuation of bullish uptrend. One can get into a short term trade for moderate gains. However, it is recommended to take a long-term view only after dragonfly doji transforms into a directional candlestick - either bearish and bullish.
