HDFC Bank spot CMP :- 1687
Elliot wave + Harmonic + Chart patterns + Price action.
Time Frame : Daily
Chart Patterns :- Rising contracting wedge formation on larger scale, with demand line around 1590-1600 levels, act as good support for the counter and supply line around 1800-1830 which would act as strong resistance levels,,
Symmetrical triangle formation (...
This was recommended at the bottom when it was getting corrected, when no was even looking at it.
Now as it has crossed the expected mentioned targets and the wave is confirmed, the new targets are 1712-1787.The link for the old study is given above & below. Please follow through.
HDFC is a market mover in nifty50 which is consolidating in a long range . It is still a buy at dip stock and can be bought at its high demand zone of 2635 to 2600 which is also a HARMONIC BAT REVERSAL ZONE
Buy at 2635
SL below 2550
first target of 9-10%
Above that sky is open for HDFC
Everyone is talking about the breaching of 200 DMA. But please don't hate it, rather try to find a opportunity. Let's try to look at it from a different dimension.
- It is not the first time it would reach its 200 DMA.
- There is a trendline since 2018 where it has tested the trendline and 200 DMA at the same time, it breaks the 200 DMA at times but comes back...
EXPLANATION : This is a 45 min time frame chart of HDFCBANK , It has been in a consolidate for day and has formed an Ascending triangle pattern . If give a strong breakout and broke its supply zone with high volumes and retest the same , I am bullish on HDFCBANK . If give a strong breakdown and broke its trendline support with high volumes and retest the same , I...
EXPLANATION : This is a 30 min time frame chart of HDFCBANK . It has formed Triple top pattern breakout & retest , If stock give a breakdown and broke it's trendline support , I am bearish on HDFCBANK . If stock bounce back I am bullish on HDFCBANK .
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HDFCBANK after consolidating for over an year and now breaking out after forming a cup & handle pattern .
Charts can't be much clearer than this .
Good investment bet for targets 1800-1900 in coming months .
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Hdfc bankis trading near its major resistance keep an alert as it can give a big breakout for upside, the resistance zone has formed on the all time high which is making it a reliable and a crucial level for the overall stock.
Think buy only after breakout with small SL
It can give a decent Risk to Reward trade
EXPLANATION : This is a 45 min time frame chart of HDFCBANK . It has been in a sideways for days and formed Symmetrical triangle pattern ; A symmetrical triangle chart pattern represents a period of consolidation before the price is forced to breakout or breakdown. A breakdown from the lower trendline marks the start of a new bearish trend , while a breakout from...
HDFC bank look good on weekly basis. if its close above the 1642 on daily basis go long.
as it from double bottom on weekly chart and trading near all time high.
chart seems promising.
this idea not for trading only for investment purpose at least for 6 month.