Better to book profit now and accumulate in the range 1611to1581The price is in the monthly supply zone 1668.45 to 1651.2. The priced has moved up beyond Fib Extension 2.618 (Please see the wave marking on the chart and plot Fib extension from 5.3-5.4/1-5.5/2). Better to book profit now and accumulate in the range 1611to1581; This is Fib retracement between 0.7 to 0.786 (Considering yesterday's top 1670 to the low of 25-Aug-23, 1558.4)
HDB trade ideas
HDFC BANK institutional buying zone HDFC bank has been in this range since about 300 days and has always bounced back from
this institutional buying zone where big players accumulate.
It has approached this range again giving a beautiful risk to reward ratio of 1:3 and more.
As seen in the past, on the break of this minor downward trend, the market rallies to the resistance zone hence we should follow the past.
Position Sizing is recommended...
What is position sizing?
It is when you first add half your position to check If the market is saying you are right or wrong, if the market moves in your direction, you will add your second half and tighten your stop loss. This way you add two positions but one only when the market shows you that you are correct.
Example: Suppose your risk is 100 per trade, You first buy enough Qt to risk only 50 ( Typically with a larger stop) and if the market forms a green candle or another bullish sign, you add another Qt to risk 50 more ( Total risk 100) and your second stop loss becomes tighter ( most probably at the breakeven of the first position) this way you minimise your loss but ur reward is the same and even more. If your first stop gets hit, you accept your mistake and move on.
Hence, if one does go long, I personally am buying as close to the zone as possible and then will be adding more as the trendline breaks.
Volume isn't a key indicator here since it has been high in the past as the market approached this zone and still rallied upwards.
Targets marked on the chart.
Keep It Simple
HDFC BANK Positional / Swing Trade / Short-term Trade "Big Idea"Here please refer the chart and under stand the pattern which is showing bounce back from the current levels.
As per chart : HDFC BANK trading in a range of 1550 to 1700 since Nov'22 means from last 10 months this stock trading in a range. We can use the consolidation term for this. stock being sideways from last 10 months.
Big Idea
Always give some to technical analysis and spend time to understand maximum points visible on single chart, and please note points. who much time you spend over chart reading you will found more new things and your view would be more clear.
Now we learn new things:
We are creating a condition:-
I have done technical analysis over chart of HDFC Bank.
and as my view is bullish as well as I'm confident over my analysis. Then what I will do??
Obviously I will buy this stock. But if have insufficient capital to buy 500 shares.
Capital required for buy 550 qty (550 x 1612 (cmp)) = 8,06,000/-
Now I have my analysis so I'll go for buy IMT Option (in the money) ie HDFC 1600 CE CMP = 33
(Cost for Buy 1600 CE would be 33 x 550) = 18,150/- only.
So By trading in options you can take advantage of more qtys.
Disclaimer:
I'm not SEBI certified analysist the information I'hv shared it's just for information and education purpose only. I'm not recommending any buy or sale here. I would be not responsible for any kind of loss or profit.
HDFC BANK LTDHello & welcome to this analysis
India's largest bank has had a dream for around 24 years. This video is an analysis of it post the merger of HDFC LTD with it.
Short term resistance is between 1660-1700 above that 1755 and then medium to long term at 2000-2100-2500. Short term support is between 1620-1600 below that 1550 and then medium to long term at 1400.
It remains in an uptrend overall but with immediate short term resistance.
Happy Investing
HDFC Bank - 1637 crucial factor
Please don't take a long position in HDFC Bank immediately. 1637 is a crucial factor. It is a major resistance zone. Though you can see that this resistance was not breached for the last two times and now it is likely to be broken. Let it cross it with authenticity then only buy. Have a look on both the charts.
Election are around the corner and market is risky. Be, careful for taking a long position in any stock. As far as possible, don't take delivery of any stock, trade with proper stop losses and risk management.
If you notice, in the past short duration all the stocks were sold and brought to the lower level, may be HDFC Bank, Kotak Bank, etc. I am not trying to scare you but throwing a caution in the wind the we are sitting at a level where more and more of precaution is required.
I am not a SEBI Registered Analyst. Please trade in consultation with your financial advisor.
On the verge of Collapse - HDFC BankHDFC Bank on just closed on the long held trendline running since year 2020 lows.
On last trading day, Friday, it just closed on the trendline mentioned above.
If we continue with bullish wave count, as shown on charts, then this is the last chance for HDFC Bank to bounce from here to maintain and continue this bullish count.
Below this trendline, the wave counting will be changed to bearish counts, which I will update later if required.
Interesting next couple of weeks.
Stay cautious with ur positions with this script.
HDFCBANK Best Intraday Trade👑🤑✔hello guys welcome to Ramajitrade 🙏😊
Today Target is 1600+ We by CALL we achive this target 100%.
and please Trail your stop loss and try to hold.
#i m data trader my 90% Trade base on data treading i hope you like all my trade.
We Not Suggest you To Buy any Stock We just share our Ideas with you.
HDFC analysis HDFC currently is in best support level. We can take new entry or avg the stock at this level.
We can expect the stock to reach RS. 1700 at a short term and potentially the stock can go RS. 2000+ at long term.
Your feedback are more valuable. Please provide me your feedback in comment section.
Note:
This analysis is only for education purpose. Please do your analysis before taking any trades.
HDFC Bank - Waiting GameRemember all the important lows are made on Tuesdays. Its been 14 days since HDFC Bank is in
Remember all the important lows are made on Tuesdays. Its been 14 days since HDFC Bank is in
cage of Rectangle drawn in 1 H Chart. It may recover now. But, wait till the end of this day.
Important levels to watch 1963, 1967, If stays above this, nothing to worry.
5 minutes chart is showing recovery. 200 SMA has come Down of all others, one more turn can take place. Watch 12.05 Candle for the last 5 days and mark. If remails above that its very safe.
Do play very safe.
Watch my previous discussions on HDFC Bank. Link Provided.
HDFC BANK at Support levels. #HDFCBANK showing support level. It has returned from this point in the past.( Currently at lower level of the channel). MACD nearing Signal Line. RSI also started showing upward moment after bottoming out.
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Fundamentally , this stock has no red flags at this stage.
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Going by the analysis. HDFC Bank is a good buy at current levels.
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This is not a recommendation to buy, Only for education purpose, Use Discretion.