1. We started with a Daily Time Frame to check the trend ! Upside.
2. We switched to 4H time frame to find a channel pattern forming.
3. We switched down to 2H and 1H time frame to plot the support and resistance zones.
4. On hourly time frame we also got confirmation on RSI chart which shows an oversold zone.
5. We found that the current zone is the retest on...
Inverse Head And Shoulders :--
The price falls to a trough and then rises; the price falls below the former trough and then rises again; finally, the price falls again but not as far as the second trough. Once the final trough is made, the price heads upward, toward the resistance found near the top of the previous troughs.
Buy - Above 730
TG1-880
hdfc life is forming rounding top on hourly chart at 670 it will become perfect short candidate with stoploss of 700 and for target of 636 with nearly risk reward of 1:1. still learning please rectify if wrong.
When there is a sale in market, we need to find best among the best
Have found something interesting for this week
HDFC Life:
Higher High - Higher Lows formation
Weekly Trendline support is around 660
Portfolio quality stock
HDFCLIFE is a fundamentally quality stock and is giving 3rd opportunity to be added in portfolio if missed in November and December.
After making Inverted Head n Shoulder in November and rising to life time high ,stock tested the rising Trendline(purple) in December. Now again stock is falling to test the same TL. It can fall up to 657..647 levels in a day or two...
If HDFCLIFE breakout the support and trading below 702 then possible further downfall in this stock up to 675. Only Short position if trading below the head and shoulder support.
HDFCLIFE is looks good for long position
It brokes the Resistence and now Sky it the limit.
I'm expecting long over that support area where i'm expecting price to Retest.
► Investment Stock Pattern #2 ◄
📌 It’s important to build our own portfolio to create wealth. These are ❝ original and unique patterns ❞ that can achieve their target almost 80-90% times. Here, I have posted one of my favourite 💖 chart pattern.
➠ Please check the description section for entry Ⓔ and target Ⓣ levels for given stock.
Entry: ▲ 666
SL: ☢ 550
Target:...
Breakout the previous resistance level of 647.60 and move towards 680.
Now Retraced to the level of 647.60..
volume also good enough to go up..
So now it'll act as a support and bounce back from here..
![HDFCLIFE: HDFCLIFE LONG IDEA [VSA + VOLUME PROFILE]](https://s3.tradingview.com/m/mS8bolEd_mid.png "HDFCLIFE LONG IDEA [VSA + VOLUME PROFILE]")
