SL- 309 (close)
- On crucial 200EMA support
- After breakout good consolidation occurred
- Closing above 333, can add more
-Trendline + Support + 200 EMA confluence
- Strong fundamental company
- Delivery Volumes have been have been impressive
- RSI divergence can be seen on 4H tf
HDFCAMC Spot chart is forming inverse head and shoulder pattern. Break out with closing above neckline may give the marked target to validate this pattern successfully.
VIEW NEGATED BELOW - 2399 (DCB).
This analysis is only for educational purposes, Invest at your own risk!
A descending triangle pattern can be seen with the resistance line at price 803-804.
Going long at 813-814 an targeting to sell at around 850-855 can prove to be very profitable .
The Volume pattern can be seen to be stable a supportive with the above mentioned pattern.