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HDFC Bank candle stick analysisI see formation of doji, spinning candle, bearish engulf showing weakness in the stock. But none them is activated yet meaning the closing price is not below the low of doji, spinning candle or bearish engulf. Buy above 1131.75(most recent high) for a target of 1152.90(recent high). Downtrend confirmation if price closes below 1071.40 in the coming days.
Neutral DOJI candle formation in NITTECHNeutral DOJI candle formation in daily chart - Long @1970 if breaks PDH else Short @ 1885 when breaks low of PDL
SL should be low of the previous day candle. Min 1:1 else you can keep trailiing your SL as per risk management.
Nifty - Bearish Engulfing and DojiNifty has formed a Bearish Engulfing on 24-June-2020 and Doji on 26-June-2020. Which has indication that that there may be downside trend.
Option Strategy as per for this week.
Buy - 9900 PE - 23.00
Sell - 10000 PE - 33.75
Buy - 10600 CE - 36.40
Sell - 10500 CE - 63.40
Maximum Profit - 2831 on Expiry
Maximum Loss - 4669 on Expiry
Capital Req: Rs.43K (Appr)
Margin Req: Rs.38K(Appr)
Probability of Profit is 60.89%
Disclaimer: Kindly do your own analysis before executing the trade. Price may differ on actual Market Hours. Profit and Loss also may differ.