Price movement has formed H&S. However, right shoulder as we see at it is not pointed. Instead, it appears to be a round top in formation. Both portend a bearish outlook. RSI (daily) is 42 - Bearish. CMP is below 20 and 50 DEMA. Price movement will invalidate round top only if it moves above 3135 - 50 DEMA. Price outlook on a weekly and monthly time frames is...
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
You can Comment and ask the TREND ANALYSIS of any STOCK/SCRIPT/INDEX/FOREX.
Appreciate via Liking and Commenting , which boost up my moral for More Post with perfect Entry Exit Target setup.
Wait...
Buy Near 2000-2020 Stoploss 1950
Target 2250-2300
Reasons For Trade-1. Price coming near to support after good breakout
2.1970 is strong support on daily+ Monthly Chart
3.50 days EMA support near to 2000 levels on 4 hour chart
4.Fundamentally Strong Company
5.Risk Reward 1:5
With the news of HDFC AMC providing liquidity up to 500 crores to FMPs, the stock has fallen 6% at a point intraday. Price has temporarily bounced off from 38% FIB of previous swing. That level also being round number of 1800, it could well act as a support. Do notice the rising trendline. Chances are that the candle close could be above the trendline. Hence, it...
Prefer to Buy to any dip around 206 (Upto you to wait for the dip or enter now, I would wait)
Target 230
SL 189
1. Bollinger bands bullish expansion with OBV confirmation
2. Last month HDFC mutual fund bought 10.60 Lac shares at avg price of 184
3. Currently in new highs territory
