the call writing is now shifted to 1800 with high OI.
The 20 and 200 day moving average is converging at these levels last see in 2009 and 2015.
Now we see strong support at 1720 which corresponds to 23.6 percent fibb levels.
If it comes close to these levels take a strict stop near 1705 and risk reward is favorable for this trade and also depends on how the...
TREND ANALYSIS & TRADE SETUP
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
August Series Option can be traded.
Wait for entry setup, if available then Long/short.
Reward is 8-10 Times
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...