I had taken the short position based on Head and Shoulder pattern couple of days back. Need Advise if the charting was correct or it was just a luck
On the day Chart HDFC BANK broke out from trending channel Go short with SL of 1290 to 1300
HDFC BANK NEAR ITS SUPPORT LINE SO ITS BATTER TO TAKE LONG ENTRY FOR NICE RISK REWARD ...ENTRY STOP LOSS AND TARGETS GIVEN ON CHART. REGARDS KING999
HDFC bank is about to complete the ED formation after which it can correct to 38.2% levels i.e 1250 levels before it can move to further highs.
After trending channel breakout, the price action has got into expanding triangle. It shall breaks down towards previous resistance area and confirm it with new support levels. Target: 1205-1200 SL: 1250
