HDFC AMC - In strong support lineHDFC Asset management is in its strong support zone, wait for fo its breakdown and give entry on the downside, trade only it breaks the zone or else do not trade
🔴DISCLAIMER
***** It's just for an educational purpose and so you must also follow your own technical analysis before taking up the trade ******
Aggressive traders enter at the breakout and conservative traders may give entry after retracement (Retracement is optional, we cannot expect every stock to take a retest after the breakout, it may also continue to have its bullish pressure after the breakout)
After reaching our targets, trail your stop loss to get maximum profit from the stock in a single trade
Shortingatresistance
HDFC Bank : Shorting On RallyHDFC Bank posted good results. The Primary trend being down, I'm looking at the shorting opportunity when price rally upon a good result.
Entry: 950-960 ( Resistance - Wait for price to take a resistance - use 30 minutes or hourly to for conformation)
Stop-loss: 990 ( Previous Swing High)
Target: 1:5 ( 800 )
Don't Jump The Gun at 9:15. Our patience will achieve more than our force.
Hdfcbank daily trend will turn up when closed above 990.
(Bear Market Low 738 - Swing High 988 - HL 810 - HH ?? )
(738 - 988 - 810 - 988++ ??)
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Entry: 950-960 ( Resistance - Wait for price to take a resistance - use 30 minutes or hourly to for conformation)
How to confirm whether it's respecting resistance or not?
There no magic formula. Just wait for a red candle, bar around 950-960 on 30 minutes or hourly.
One red candle doesn't confirm resistance. But it's a technique to enter a trade at our predefined resistance level.
Keep things simple enough while trading.