Shooting StarA shooting star occurs after an advance and indicates the price could start falling.
The formation is bearish because the price tried to rise significantly during the day, but then the sellers took over and pushed the price back down toward the open.
Traders typically wait to see what the next candle (period) does following a shooting star . If the price declines during the next period they may sell or short.
If the price rises after a shooting star , the formation may have been a false signal or the candle is marking a potential resistance area around the price range of the candle.
Script = HDFC Bank
Time Frame = 15 min
HDFCBANK
#HDFC Looking good for today 15 mar 23#hdfc... ✅▶️
⛳️⛳️⛳️⛳️⛳️⛳️⛳️⛳️⛳️
Intraday as well as swing trade
🔷All levels given in charts ...
we provide stock as well as option level over their
🔷 IF good potential seen then we work in options also
🔷 if activate then possible a huge movement Keep eye on this ...
🔷We take trade only when it activates...
🔻🔻🔻🔻🔻🔻🔻🔻🔻🔻
Possible to give good target
👍👍👍👍👍👍👍👍👍
TRADING FACTS
hdfchdfc form rising channel with HH&LH. may be stock reverse from here or give false breakdown then go up
HDFC Bank: Is it in a downtrend?Technical Analysis:
Note on HDFC Bank chart:
1. Over the past 5 months, HDFC Bank's price has been moving within a certain range.
2. Currently, the price is hovering around its support level, but is trading below its 20-day moving average. While there are several support levels, all of them seem weak at the moment.
3. The 1500 level appears to be a strong support level, as it has high open interest.
4. On the other hand, 1600 is a strong resistance level that is currently holding up well.
Traders should keep an eye on these levels, as they could provide important signals for the direction of the stock's movement in the near future.
HDFC Life Double Bottom RSI DivergencePrice 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 after the neckline of W pattern is broken as marked on chart.
Stoploss
We can keep stoploss below the double bottom support zone.
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THIS IS HDFC BANKHDFC 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!!!
Infosys near support zoneInfosys is near crucial support on daily chart. We can take a swing trade here.
Entry
We can go long after close of strong bullish candle near support zone.
Target
We can keep target as the next resistance zone as marked on chart.
Stoploss
We can keep stoploss below the support zone.
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Reliance Double Bottom & RSI DivergenceReliance has formed double bottom pattern on daily chart. While the RSI is making higher low which is clear sign of RSI Bullish Divergence.
Entry
We can go long on open of next candle.
Target
Target 1: We can keep our 1st target at the nearest resistance which will also the neckline of the W pattern as marked on chart.
Target 2: Once the 1st target is achieved & price gives breakout above the neckline of the W pattern 2nd target will be the next resistance as marked on chart.
Stoploss
We can keep stoploss below the support zone.
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Sun Pharma Swing TradeSun Pharma is near Support Zone on daily chart. It is Good Opportunity to take Swing Trade
Entry
We can go long on next candle open.
Target
We can keep target near the next resistance zone as marked on chart.
Stoploss
We can keep the stoploss below the support zone.
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L&T Head and Shoulder PatternL&T has formed Head and Shoulder Pattern on daily chart.
Entry
We can go short if price breakdowns below the neckline with strong bearish candle.
Target
We can keep target near the next support zone as marked on chart.
Stoploss
We can keep stoploss above the neckline.
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KotakBank Double Bottom RSI DivergenceDouble bottom pattern is formed on daily chart of KotakBank. RSI is making higher lows which is sign of RSI Bullish Divergence.
Entry
We can go long after close of strong bullish candle near 2nd bottom.
Target
Target 1 - will be the next resistance as marked on chart.
Target 2 - After 1st target is achieved and price breaks above neckline of W pattern then 2nd target will be next resistance zone.
Stoploss
We can keep stoploss below the double bottom support zone.
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Banknifty 23-feb-2023 intraday Trade analysisBanknifty - Today is complete downtrend. 5 red candle formed continuously. Tomorrow is expiry it can cont. down initially, profit brooking can come anytime.
Flat opening — It may cont. it's fall till 39600-700. so will sell it at open if 1 min-ve candle. But if not wait for some price action.
Gap up - wait for price action, profit booking may come. but it is expected in the last 2 hour. But ready for buy on proper price action.
Gap down - Due to cont. sell, will wait for W pattern to buy it. 39500 - support.