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Hdfcbankanalysis

HDFC Bank Trade Plan for 29th OctoberOn 28th October, In 1st 30 Min candle itself, HDFC Bank broke the upper channel support at 1226, thereby confirming the move towards balanced auction profile POC and closed at 1209 level. Below is the trade plan for 29th October. 1. If Open and sustains below 1195, go short with SL of 1202 for target of 1180. 2. Sustaining below 1178 will make further weakness and can go till 1165 level. SL for this would be 1183. 3. Longs can be only initiated above 1226 for target of 1235 with SL of 1222. This looks very less likely. Tomorrow is monthly expiry. Moves can be very fast. Trade according to your plan
NSE:HDFCBANKShort
by RajendraNayak
HDFC BANKHDFC Bank reversed from a Bearish Harmonic Bat and now has activated a Bearish C Clamp as per Ichimoku study. It faces resistance at 1210 and it could retrace till 1130/1080 provided it does not breach above 1240 Harmonic Trading Patterns are formations based on Fibonacci Ratios which indicate reversal of a trend with retracement levels of 38-50-62% of the trend line. Ichimoku is a Japanese origin study of charts based on specific Moving Averages combined together to give a trend based signal in terms of both Price and Time.
NSE:HDFCBANKEducation
by Dinesh_C_Nagpal
3
HDFCBANK LONGI 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 methods, techniques, or indicators presented in these chart will be profitable or that they will not result in losses. There is no assurance that the strategies and methods presented will be successful for you. Past results are not necessarily indicative of future results. You should not trade with money that you cannot afford to lose. Examples presented in these products are for educational purposes only and it should not be assumed that these are indicative of ordinary trades. These setups are not solicitations of any order to buy or sell. The publisher assume no responsibility for your trading results. There is a high degree of risk in trading.
NSE:HDFCBANKLong
by EntryandExit
2