Index has formed a bullish Wolfe wave and it seems to be in action right now. Which offers a good Risk to Reward of above 3.5 at current level.
Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
Housing Development Finance Corp Ltd (HDFC) DAILY WOLFE WAVE CHART
HDFC STRONG SUPPORT AREA IN DAILY CHART 2025-40
IF HOLD WE SEE GOOD UP TRADE
BUY HDFC AT 2040-2025 WITH TIGHT STOPLOSS 1960 FOR TARGET 2200
RISK / REWARD RATIO : 2:0
My teacher once told me, Gap ups or down must be taken seriously. Imagine the nifty as a particle and in the price path it went missing, giving no clue how it reached there or how it was about to reach there. At that particular price levels we don’t know how many buyers-sellers and who all are stuck. May be they will not accept the loss so easily when they were...
SAIL ! No doubt is a worst performing PSU for few trailing years.Its because of the heavy capital involved in the nature of business and of-course the government interference that has done enormous injustice to the stock. Now talking technically with a few months time view, a small bounce is expected with a peak to be created near to 17th OCT 2019 and then again a...
HDFC has been a roller coaster ride for past few months. But surprisingly a wolfe has been formed in the mean time with a target of 2236 and next or 2400 in long term. But in the short time the filling of the small gap in-between 2058 and 2071 would have indicated a healthier growth (Not necessarily because from last 8 trading sessions it has been respecting the...