The share is at a make or break level. The budget was not in favor of the insurance sector.
As per the parallel channel the share is at a support level. Mostly all the insurance company saw a correction today.
Tomorrow the market should give us a positive candle i.e. confirmation candle. Post which we can buy the share.
Please let me know your thoughts by...
Price has formed a double pattern on daily chart. while the RSI is making higher lows which is clear sign of RSI Bullish Divergence. We can take long trade.
Entry
We can go long on open of next candle.
Target
Target 1 will be the nearest resistance zone which will be also the neckline of W pattern as marked on chart.
Target 2 will be next next resistance zone...
HDFC First High @1724.30 on 04APRIL22
HDFC Second High @1702.00 on 24JAN23
I can see three possibility.
1. Price will go up near @1702.00 and breakout! or a Rejection.
2. Market will mitigate the box and down that means SHORT.
3. MAYBE NEW HIGH BETWEEN @1724.30 & @1702.00
CORRECT ME IF I'M WRONG!!!
both side potential
wait for box breakout
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
Currently its in
1) Uptrend parallel channel
2) Top of parallel channel( both down and up trend parallel channel)
2) Wave ABC completed with target of 1.618
High possibility for down side as per chat and MACD
MACD:
Convergence seen of MACD and signal line..weakness for bull
target: first level -1725
support: first level -1560
hdfc can take rejection from there or it can break the red zone
both side potential
avoid first 15min breakout
wait for 15 min candle closing
targets are marked
if the breakout comes after 10:00 am then the probability of winning will be more.
follow risk management
do your own analysis
do workout
do meditation
start reading books
HDFC STOCK CUP AND HANDLE pattern
buy 2700 levels above 10 minutes candle close i mean (5 ,5 mintes 2 candle close 2700 leves above banknifty bullish and hdfc stock both see okh
We can start accumulating the share from this level.
2290 is a recent level which should be achieved soon.
This return is close to 10% which is very good.
Only for educational purpose.
GLOBAL UPDATE
-any selling pressure in us market is absorbed and short covering takes place
-s&p 500 and nasdaq catching up to dow jones
-weekly chart of us market is indicating bullish momenutm
-double bottom on nasdaq breakout on the card on weekly chart
-opening up another 1500-2000 point move on index
-s&p 500 weekly bearish trendline break plus...
We suggested buying HDFC at 2730 and it went around 2780 hitting all our targets. It looks a good buy if comes to support range of 2550 - 2500 for the short-term.
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
The weekly chart of HDFC is exhibiting rejection of the bulls for the last five weeks. This can also be seen in the rising wedge which is forming on the Daily chart.
Further, this type of price action is also forming at the completion of 61.8 AB=CD harmonic pattern.
The thesis is bearish with target of point B of the harmonic pattern at 2507.
HDFC is consolidating in a parallel channel pattern on daily time frame chart what I observed it is poised to go up with no disruptions so we can go long for if it will break and close the resistance (2734) mentioned on chart for the target of 2932 why it seems to go up is the reason that it collision to resistance again and again and make it weak so if once if it...
