After the seemingly never ending uptrend, looks like HDFC Bank NSE:HDFCBANK is facing resistance around 2220 levels.
I can see that the stock got rejected at the trendline and also formed an Inverted hammer with Bearish Divergence.
It may come down to 2000-2100 levels.
Good opportunity to short here with a small stop loss.
Disclaimer: Views expressed here are ...
Looks like we have a bottom in place for Pharma sector NSE:CNXPHARMA after the rally witnessed in Pharma stocks in the past few days.
However, a small correction may be due if it is unable to cross 8650 levels, as it has stopped exactly around 61.8% retracement of the previous downmove and also formed an inverted hammer today.
Tomorrow’s candle would be crucial ...
Hi,
Since festive season is over here in North, I might spare some more time to write on TV.
Let's begin with this post on Nifty. In my last post I tried to time the market in anticipation of a correction. Although market reacted for a few days from there, yet I can't call that a correction. Price-Time analysis has once again been hinting at something but this ...
Strong Inverted Hammer on daily chart. Descending triangle. May break on either side. Position to be taken based on where to it breaks.
Weekly chart shows clear indications of a downfall.
