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Wpattern

HDFC Bank form Bullish W or Double Bottom PatternHi Traders, HDFC Bank Forming Bullish W or Double Bottom Pattern can go Long on every dip. Bullish View on stock due to below point: 1) Stock forming Bullish W Pattern . 2) Stock was taken support at 2150-2160 zone & bounce with Good volume [ Avg volume greater than 20 day ]. 3) Bounce happen from support was Big Green Candle 4) Stock Moved above 200 sma (Golden Crossover) mean stock is in bullish zone. What indicator are suggesting: 1) RSI moved above 50 & Advance breakout from previous high which mean bullish in near term.(See the chart) 2) On Balance Volume has given Advance Breakout .(See the chart) Happy Learning ); Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
NSE:HDFCBANKLong
by karanwealthape
Big W Pattern/Trend Line Break good RR tradePrice has formed the big W pattern and also broken the intermediate term Trend line so one can conclude that downrend is over now and prices are supposed to move up. Prices have retested the down sloping trend line from above and bounced back. It is getting some resistence at the previous high level so one can use the retrace for a good entry. One can invest in the stock or initiate the short term Trade as the details given below Entry 474 SL 463(closing) Target 510 Risk/Reward Ratio above 3 Disclaimer : All ideas are my personnel view. Please take financial consultancy for trading decision.
NSE:ZEELLong
by praveen.bhatiya
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