Today, HDFC Bank is down by more than 4% due to some news of target reduction.
As HDFC Bank is a market mover, a big fall in HDFC bank can trigger a correction in broader Indian markets, especially banking sectors.
However, news based moves are mostly a trap for retail investors.
Weekly TF analysis of HDFC bank shows formation of ascending triangle pattern since...
As seen on the chart, Grasim stock is trading near a strong supply zone of 1750-1775.
The stock also has taken support from trendline which is drawn from 2020 lows.
If the stock manages to break its ATH level and sustain above this supply zone for few weeks, we can see a flag breakout and a new bull uptrend in this stock.
However, rejection from supply zone can...
Nifty has shown a steep upmove in the last one month breaking all the strong resistance without any major retracement.
Today, nifty crossed 18000 with a strong volume candle and has closed near a strong supply zone of 18100-18120 levels. Even Bank nifty has given a strong closing above 43000.
This breakout can be a signal for strong bullish uptrend to a new high...
It is about to give breakout or breakdown.
In this pattern for almost 4 and half month.
Let's see how it goes further.
This post is for information purpose only.
