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.
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...
If it crosses 1109 without any resistance then long positions can be taken with two targets given and stop loss 1076. On weekly charts a hanging man candlestick pattern has been formed which is a sign of reversal.
Nifty is looking in a strong uptrend, but Banknifty is neutral as it still hasn't broken the 23000 barrier on a daily chart. For Banknifty to be bullish, it needs to break 23000 on a daily chart. This is my personal setup for Banknifty on Monday. Looking at domestic cues, the trial for vaccine has been allowed by AIIMS, which is a positive, but on the other hand,...
(FOR LEARNING ONLY)
Price currently trading in ELLIOT 5TH WAVE
Volume expansion when price moves up suggests the strong bullish move
Relative Strength is on rise
PRICE MIGHT MOVE TILL 1200 IN 3 or 4 SESSIONS
TG1 1120 TG2 1200
1. As I mentioned in my previous study, The price took the reversal after the 50% retracement.
2. On drawing, ABCD Pattern; As the extension to the previous level.
3. Lets find the reversal level with the D Point
if D=1; Double Top Formation Price:1128
if D=1.28; reversal level Price:1153
4. Previous day volume was really good on green candle.
Once again after taking the support of 1037 stock of HDFC bank is on bullish mode & trading above the 50 EMA level. So again good opportunity to buy the stock above 1100 for the target price of 1125 as marked on the charts the range of small gap filling to be completed. Once stock trading above 1130 we can see the next level of 1175 very shortly. So add the stock...
This looks like a pullback from 2/3rd retracement level, so i has got a very crucial support at 1050 and it is also getting support from a trend line, can take long positions for a week. Wait for the bounce from 1050 level for taking a long position. Shorters trade cautiously, this is a strong stock with strong uptrend. Well this looks like a pullback to me but if...