For sure the gap will be closed. Just crossed below 50 % retracement, crossed below 50 day ema, crossed below bollinger band middle line, so bearish but only one problem the GAP, if the trend is strong the gap will be filled later, for now adx says 17 and stochostic says sell.
HDFCBANK has shown small rejections at its weekly support trend line. If it moves upwards it can be traded for 1069, as 1069-1079 is area of strong monthly resistance.
If HDFCBANK falls below 1025 comfortably, it will retest 975.
So keep close watch and follow the strategy as follows:-
In case of upward move:
Intraday traders/Short term traders can...
I hope you can now see how HDFCBANK represents an excellent low risk profit entry setup allowing you to trade in the market.Take positions so that the risk/reward is in your favor.
Knowing why, where & when a strong reversal signal is being generated will be the only way to capitalize on your technical analysis .
Disclaimer: It should not be assumed that the...
Bank Nifty - Technical Analysis:
Bank Nifty had a gap down opening and continued downward, closing 3.5% down.
Bank Nifty breached the 22000 level before holding the 61.8% retracement level.
Market - Driving Factors:
Aditya Puri, Managing Director of HDFC Bank, sold over 95% of his stake in the company. Multiple other insiders sold their HDFC Bank...
HDFC BANK which spiked up recently now has filled the gap. Selling momentum and volumes have reduced. Will it breakout ?
I feel bullish about the stock and have a long position. So I will be watching it either to exit or hold on.
IT HAS BEEN RECOVERING REALLY GOOD AND OVERALL UP TREND
AT DECISION POINT FOR SHORT TERM (1 WEEK)
MAY HAVE A DIP BEFORE REACHING 100% FIB LEVEL
WILL TAKE SUPPORT ON FIB LEVELS AND CHANNEL
ALL THE BEST...!
if it breaks the current downtrend pattern its going to make next higher level which is 1080 around
wait for a breakout and pull back or wait till it reaches lower low 3
entry around 900
target around 1063
time peroid less than a month
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The price is Becoming weaker by testing multiple Times at control Price, The price is COnsolidation from last month .
If is continue consolidation We will see litle correcction in the price Where we will get Buying...
Chart pattern continues to look good & even bank nifty continues to move further up, It showing relative strength
Active (As Its low less than Previous close +Previous close*1%)
Not Active (As Its low is more than Previous close +Previous close*1%)
Success : Success (As 1D or 2D or 3D High is more than previous close + Previous close*3%)
HDFC Bank is all set to embark on its journey towards 1248-1297 followed by 1315 levels. Below is my strategy for traders in this magical stock.
When the market opens, wait for HDFC Bank to take a direction. It currently stands at its strong support of 1138. If this moves upwards or opens with gap-up, wait for it to touch 1185.20-1187 post which I...