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HDFC Bank Limited ADRHDFC Bank Limited ADRHDFC Bank Limited ADR

HDFC Bank Limited ADR

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HDB trade ideas

HDFC Bank: Black Swan Pattern & Trendline SupportIn this analysis, we will delve into the chart of HDFC Bank on a daily time frame and examine key indicators and patterns to provide insights into the stock's current situation. Notably, we will explore the presence of a potential black swan harmonic pattern, trendline support, RSI trendline support, and the stock's current RSI reading. Black Swan Harmonic Pattern: The black swan harmonic pattern (in red color) is a specific pattern based on Fibonacci ratios that traders use to identify potential price reversals or trend continuations. It is important to clarify that the term "black swan" in this context refers to the name of the harmonic pattern and is not related to the concept of unforeseen events. The black swan harmonic pattern is characterized by specific Fibonacci retracement and extension levels and can indicate potential turning points in the price of a security. There is a presence of Gartley in blue color. Trendline Support: On the chart of HDFC Bank, we observe a robust trendline support. Trendlines, drawn by connecting significant lows or highs, often act as areas of support or resistance. The presence of reliable trendline support suggests that the stock has historically found buying interest at these levels, potentially providing a cushion against future price declines. RSI Trendline Support and Reading: The Relative Strength Index (RSI) is a widely used momentum indicator that measures the speed and change of price movements. In the case of HDFC Bank, the RSI exhibits a supportive trendline, indicating consistent buying interest that helps maintain the stock's momentum. Additionally, with the daily RSI hovering around 41, it suggests that the stock is neither oversold nor overbought, leaving room for potential further price movement. Trade Setup: Based on the analysis of the chart and the potential black swan harmonic pattern, a possible trade setup could be as follows: Entry: 1603 Target 1: 1641 Target 2: 1690 Stop Loss: 1575 Conclusion: In conclusion, the detailed analysis of HDFC Bank's chart on a daily time frame reveals several notable aspects. The presence of a potential black swan harmonic pattern, combined with trendline support and RSI trendline support, suggests a unique trading opportunity. It is important to clarify that the term "black swan" in this context refers to the name of the harmonic pattern and is not related to unforeseen events. Traders should use this pattern along with other technical and fundamental analysis tools and implement proper risk management strategies to make informed trading decisions.
NSE:HDFCBANKLong
by yaashul
HDFC Bank in correction mode, wait for the right moment to shortHDFC Bank has started the correction, we are about to complete the first leg of correction, however what we gonna see next is a sharp X wave towards up and then another leg of correction. I haven't marked all the details on the chart, since I use other charting software where I have marked step by step details on each wave count and how we reached there. For now wait for the wave X to be completed and then let the next leg of correction kicks off, where you will have the opportunity to short. As far as the targets towards downward movement is considered I see first target as 1470 if the wave Y turns out to be traingle, if Wave Y turns out to be Zig-zag then expect further downfall to 1470. Good Luck! If you are interested in learning Elliott waves contact me at 8wavestosucessatherategmaildotcom. Planning to start my first batch of Technical Analysis using Elliottwaves soon. Regards Sachin
NSE:HDFCBANKShort
by Swiftstrike
1
HDFC BANK - A long tradeHDFC BANK has been consolidating for a long while near its resistance areas. This is showing that the sellers are losing their grip on the supply zone and buyers are willing to push the stock ahead and change the market structure. The breakout has not yet happened but the signs look positive hence keep it on your radar. Disclaimer - Please take positions as per your risk appetite and also do not put all your capital in one trade. I am not responsible for any loss or profit that comes along with the trade. Please do your due diligence as well. Just sharing my thoughts and setups as per my 4 years of experience. Will be updating when the trade triggers and giving the Stop loss and Target areas.
NSE:HDFCBANKLong
by Aadilsid0810