HDFC
HDFC was at support and then retraced at fib levelsHDFC has successfully completed a retracement Long from here.
HDFC at supportHDFC is at a level which was previously a resistance on weekly charts.
If it breaks this trendline, we could see further downfall in H NSE:HDFC DFC.
HDFC what a moveHDFC is truly in an uptrend with huge green candles and the buying is always above the average volumes.
HDFC Trend Analysis & Trade Setup !TREND ANALYSIS & TRADE SETUP !
UPDATED CHART !
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Reward is 15-20 % Gain.
Short term HDFC setup HDFC is looking bullish as the overall activity inside the range has been very positive except the on bearish pin bar near the resistance. I would want a really strong volume expansion on weekly candle(something like 35-40 million) to confirm the present of strong buyers. Currently the volume has been falling from 26 May and I would prefer a strong close above 1927-1930 levels on weekly candle with strong volume. Range breakout on the upside after a bullish move is a great setup for going in long on a trade. Range breakout is a great setup with high probability of moving higher or lower, depending on where the price broke out. Volatility has contracted from 3rd August and now the chances of a strong breakout on either side is very high. The reason why I am bullish is due to the price activity happening inside the range, which I have described on the chart.
I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
Stock market is risky and you can lose a lot of your capital.
Be wise and trade carefully!
Grateful!🙏
HDFC - Clear LONG for Positional TradeHDFC has bounced back from Monthly Support, Vixfix is trending down and OBV is increasing - clearly makes it a good set up to GO LONG - and Hold Positionally.
1st Target : 1780
2nd Target : 1850
HDFC Limited - High Probability SetupHDFC Limited has just bounced up from support zone being respected from past 2-3 Months. The support zone is just above the up-gap formed as marked in the chart.
Looks a high probability setup for a move of 75-100 Rs in next couple of days.
Note - I have taken position in cash basis this analysis, avoiding options as monthly expiry is near. I am sharing my trade here for educational purposes only. Do your own risk assessment prior to entering any financial position.
HDFCHDFC appears to have completed its motive Wave 1 and corresponding corrective Wave 2 as well ... Same has been marked on chart ... Expecting Wave 3 to commence from here ... May give a small pull back on Monday to levels of 1640 .. It would be an ideal opportunity to go long with SL as 1620 ... Target for Wave 3 would be 2370