HDFCBANK
HDFC BANK NSEDATE - 12th March 2024.
HDFC Bank has breakout today with good amount of candle size and volume too.
Applied Concepts
Chart P. - Inverted H&S
Positive Order Block from Daily Time Frame and Previous OB of Monthly TF as shown in chart.
Only OB is not a good option so here we have applied FVG (Fair Value Gap) also, Price Action has successfully reversed from FVG and gave confirmation for potential upside movement.
Targets
1st Target as per Chart P. is 1555 Rs.
and Further upside Target as per OB and FVG is 1700+.
Thank You!
Have a Good Day.
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For short term investment ;
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Wait for small retracement & daily candle to close above - "340".
Avoid Trade untill PROPER ENTRY level.
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Entry: 340
target: 400- 420- 478
sl: 315
major stoploss/ support: 290
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Enter only if market Retrace and Breaks
"Yellow box" mentioned.
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Don't make complicated trade set-up.📈📉
Keep it " simple, focus on consistency "💹
Refer our old ideas for accuracy rate🧑💻
Follow for daily updates👍
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Refer our old ideas attached below for Backtesting
Banknifty cautious level: Exit poll; Avoid - levelsBanknifty " Wedge pattern "
Now, currently Trading inside sideways level.
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Don't make complicated trade set-up.📈📉
Keep it " simple, focus on consistency "💹
Refer our old ideas for accuracy rate🧑💻
Valuable comments are welcomed-✌️
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Refer old ideas attached below
BANKING MAJOR COMPLETES RETEST.India's biggest bank finally broke out after months of correction and consolidation. Lot of news and investment expectations boosted the stock for new breakout but a green candle was nowhere to be found for strong close after huge gap ups and hence stock corrected down to its supports. NSE:HDFCBANK is finally ready to continue its upmove after completing its retest.
#HDFCBANK BREAKDOWN 08/07/2024How to trade HDFC Bank Stock after its Fall 05/07/2024
HDFC BANK the stock is holding above its 50-day moving average, the big traders or specialist remains positive on the other side showing resistance at 1700.
After such a sharp decline, HDFC BANK is likely to find support their is high possibility of a bounce back from the mentioned support levels.
On the higher side, Immediate resistance is at 1700 and the next crucial resistances are at 1740 and 1790-1800 levels.
The overall structure of the stock seems to be bullish, and buying on dips will be the ideal strategy in this counter. Coming to the levels 1600 will be a good bargain price where short-term traders can enter the stock. The immediate targets for the stock are around 1720 on the higher side
L E V E L S:-
Resistance-1700,1720,1740
Support-1600