HDFC
HDFC Trend AnalysisHDFC is giving a double breakout on 1Hr time frame.
1. First breakout is for Symmetrical triangle.
2. Second breakout is of Wedge pattern breakout.
Both is bullish and seems HDFC share price will give a new bullish trend for us.
HDFC, Swing/PositionalHDFC 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 indicators of HDFC possibly achieving target is support of 50 EMA , RSI above 50 suggesting a buy signal and if you look closely you can see a rounding bottom pattern forming which i haven't highlighted in my idea, but it can be seen.
If you enter after a breakout from the 2605 region. Stop loss can be set just below 50 EMA for swing.
Make sure to trade what happens and not what you expect :)
Note: Please do not follow my idea blindly, please analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
Intraday levels - 28 May 20211. price action
2. Double top pattern / M pattern move show
3. Support and Resistance levels mark in chart .
HDFC BANK LONG It makes a clear inverse double bottom pattern that is going to prepare for a good upside breakout so we can see upside in the near term that also leads bank nifty.
HDFC LONGIn this stock, we see a symmetrical triangle formation that looks like 3 months of consolidation. I think there is a breakout is happen in the near term for the big upside of 10% to 15%
HDFC set for re-continuation of Uptrend Clear Cup & Handle Formation in HDFC, followed by a small breakout of the Handle.
Cup & Handle is a continuation pattern, which suggests that the blip in HDFC's upward trend may be over, and the uptrend is likely to now continue.
Confirmations of the pattern formation/ trend analysis are (1) supported by a bounce back off the 2370 support level, and (2) Bullish Divergence forming between the increase in RSI and decrease in price.
HDFC BULLISH for next couple of week Monthly and weekly shows a strong Up trend
Hourly chart shows a trend break-out
Intraday levels - 25 May 20211. Price action
2. Ascending triangle pattern
3. Support and Resistance levels
HDFC | positional setup Well an amazing symmetrical triangle breakout done :)
Trade on retest if there is any :)
Happy trading
Be cautious for day if gap up strongly Be cautious if gap up much more otherwise be on the bearish side till 1367.75 which is the first support
If break 1358 to 1343 act as stronger support as multiple attempts denied to break it
HDFC - Symmetric Triangle FormationSymmetric Triangle formed here can lead stock for an Up move to the 2617 as we can see Resistance line.
So If triangle breakout successfully we can get our first target for short term (1-2 weeks) at Price level 2617.
Next target can be 2765 & 2896 (For long term)
If pattern breaks down, stock can take support near 2364
HDFC DailyHDFC consolidation in a range. Could breakout the TL anytime. keep in radar for positional trading.
