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HDFCLIFE

HDFCLIFE is Making Symmetrical Triangle Pattern (Breakout Trade)HDFC Life Limited : Life Insurance Company ( NSE:HDFCLIFE ) is Making Symmetrical Triangle Pattern (PATTERN BREAKOUT TRADE). This can become a very good trade for INTRADAY traders. Target + StopLoss: There is no target here. You keep the first target as much as the StopLoss you put. And the StopLoss will be the Low/High of the candle that broke this pattern. Or Low/High swing backward inside the pattern. And as soon as you get a profit of 0.50% of your target, you will trail your StopLoss and bring it to the entry point. And as soon as your first target is hit, you will release half of your total quantity and continue to trail your StopLoss above the last swing Low/High. Target and StopLoss are never already fixed in the chart pattern. Thank you. You always have to trade only by money management, position sizing, StopLoss trailing. This is the way to stay in profit. Chart Published By Ravinder Sharma
NSE:HDFCLIFE
by R_Sharma
Elliott Wave Double correction on HDFC chartHello! Friends, I have come up with a new research an idea but, before starting to talk about technical things, Let's share your LOVE by you giving me LIKES and COMMENTS. Thanks in advance. -------------------------------------------------------------------------- "" 4 hrs TImeframe Chart "" -------------------------------------------------------------------------- You all can see it is an HDFC intraday chart of 4 hrs time frame. Which is the very important timeframe for short term trader Here I am grabbing a significant law of price and drawing Elliott Wave with it. I am taking this law at the starting point of wave 1. While drawing the Elliott wave, we can spot that 1 to 4 waves have been drawn and here wave 5 is at the starting point. Let's check the rules. As you can see a wave 2 can't overlap wave 1. But wave 4 is at the exact line of wave 1 and here we can conclude that wave 4 is the violated wave. We have come to know that wave 1 is violated. According to the violated wave rule, the Elliott wave structure is drawn on the chart which is incorrect. To overcome the violation of the Elliott wave, we should label it correctly. Here I am replacing 1,2,3 as a,b,c, and wave 4 as X. As per Elliott Wave theory, here double correction concept can be detected. We are spotting a consolidation area of price. Here can find either a new high price of a new low price. Here I am drawing a parallel channel that covers most of the price points and drawing a line followed by most of the price movements. The gravitational line is a force that attracts price which is a combination of support and resistance. Excess is an amount of something which is more than advisable. Here the excess point is labeled, the area which is going out of the parallel channel which is a strong reversal signal. Let's move on Volume study Here I have drawn a horizontal line where I have caged average volume. Whenever price crosses the average volume, we can spot the strong price reversal movement. Here, if the consolidation area has a downside breakdown, we can judge that in the current price the wave 1 has ended, and now wave 2 would be formed. If there will be an upside breakup, wave 2 is still forming.
NSE:HDFCBANK
by Trade-Technique
18
HDFCLife: Triple Top HDFCLife made a triple top formation on 640 levels, on all the 3 attempts huge quantities have been supplied & stock fell. This time there is abnormally heavy selling volume on the latest 3rd top indicating high pressure around those levels. Stock is struggling at 600 levels & on its S2 level. Stock may further correct itself till S1 levels around 550 if Nifty corrects next week supporting the fall. Heavy selling volume indicates short positions and hence a bit more fall expected.
NSE:HDFCLIFEShort
by finalyticsbreweries