There is very good selling momentum in HDFC and there are two more reason for sell 1) Trendline Break 2) Support Break 3)Divergence,Now we need some buyer to push price higher and I will take trade on weakness of buyer.
As we discussed in our last analysis of Karnataka bank, we have seen a trend change signal and finally I have seen a control of buyer in this zone so I take a trade.
We have Seen very good LL LH formation from last few days, we have got first HH today with very good momentum, So we can look for buy. This is pure price action technical analysis and I do not recommend to anyone for buy or sell,this is for education purpose only, do your own research before taking trades.
We have seen downtrend in Karnataka bank from last July 2017 but today we have seen first sign of change in trend with momentum and triple bottom and bounce from support and if price go in our favour will hold for tgt @170 So its pure technical and we trade only on technical
USDJPY trading in range but we can see the buyers trying to push higher and the trend is also up So we can take a buy trade with small risk
We have seen good range from last few weeks and today finally we got the breakout,I do not trade on breakout I always wait for price to settle above the resistance zone then look for buy signal
KARURVYASYABANK broke the support zone and trading below the support zone and we can see there is no buyer as of now,Wait for seller momentum for confirmation then we can take the trade
CHFJPY break the near resistance and holding by buyer its not very good setup but we can take with very small sl if we right will get very good RRR.
LUPIN broke the support zone and trading below the support,We can see selling continuation from now.
HEROMOTOCOP broke the support and trading in consolidation phase,We can see good selling after consolidation.
NSE:INFY has printed a bearish pin bar looks like it will move downward . so i will go short tomorrow .