WaveTalks-HDFC- The Connecting Moves (Wave Analysis)Short Video Outlook on HDFC
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22nd Jan 2022
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4th July 2021 - HDFC - WaveTalks -Pattern /Patience & Penultimate Correction which was Wave 4 Triangle.
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Expectation
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Wave 5 Expected Post Penultimate Wave - Targets achieved 2650 / above 2777 - 2900+
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Outcome
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Achieved - Wave 5 Topped at 3021 Highs in Nov 2021
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9th Nov 2021 - HDFC -Wave 5 - What it could be unfolding ?
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Expectation
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Some kind of Topping Out Pattern Ending Wave 5 & The Impulsive Sequence Starting from 1473 Lows in March 2020
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Outcome
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Topping Out Pattern in Wave 5 Unfolded as Ending Diagonal & Topped at 3021 Highs in Nov 2021
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What Next ?
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Ongoing Corrections unfolding. 2540 could be a possible short term support as it unfolds
Piercing Candlestick Pattern - Reversal Pattern
Rising Trendline Supports
Few days of possible upside moves can be expected next as India has Budget 2022 & Break below 2541 can make stock slip & retest 2380-2400 support zone. Getting upside bounce from 2541 -partial targets to be booked at 2650 & 2750
Thanks & Have A Lovely Weekend
Piercingpattern
WaveTalks- Nifty: Piercing Candlestick PatternWhat Is a Piercing Pattern?
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A piercing pattern is a two candlestick price pattern that marks a potential short-term reversal from a downward trend to an upward trend. This candlestick pattern is applicable in any time frame but produces better results on a higher timeframe. The pattern includes the first session opening near the high and closing near the low with an average or larger-sized trading range. It also includes a gap down after the first session where the second session begins trading, opening near the low and closing near the high.
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Important Pattern Criteria
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The 2nd session close should cover at least half or 50% of the 1st session candlestick.
Getting 50% & above closing into the 1st session indicates- bulls have taken control of the session.
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Stop Loss
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Stops should be maintained below low of the candlestick in 2nd session. In current situation – 17587
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Critical Zone
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17590-17600 was discussed in last video idea published as running comment. If critical zone holds then Index has fair chances for a new all-time high once again.
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Target
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Target 1- 17700 & Strictly Holding Above 17700- We can expect 17790+ for another new ATH (All-Time High) as Target 2.
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Last Video Idea Published on 16th Sep2021- WaveTalks: Nifty- On Cloud Seven
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WaveTalks - Nifty -The Piercing Pattern at 16180This short video will discuss my reasons for having bullish bias towards stock indices.
False breakdown below 16180
Piercing Candlestick pattern close to 16180's - Two times
Heavy weight -HDFC yet to finish final target @ 2900+
Let me know your comments. Thanks for watching the video.
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Last Idea on HDFC
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Last Video Idea on Nifty
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