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HDFCBANK trade ideas

HDFC Bank update Its a special Diwali Gift for you, my dear followers. I have tried to keep it as simple as possible. 1. Planted is my indicator showing degrees and I have knowingly switched off irrelevant levels and kept open only a few relevant levels. 2. You can simply vouch in the Daily Chart that November 7 2023 is 90 degrees Level therefore, Low of this candle is strongest and not likely to be broken. November 21 is the 15 Degree Level and therefore, be prepared for the levels of these days. By 21st September we can expect around 50 points gain. 3. Total Buying is being done by the smart money now from 1484 and 1485 as per comment mentioned on the chart itself. So, this level will be protected today. 4. Market closed just below Yesterday's candle of 2:18 p.m. 5. Today's most important candle for the stock is 11-10-23 12:17 PM. 6. Price Swing Levels for today are as under: Price High 1504 78.60% 1494.6375 61.80% 1487.2875 50% 1482.125 38.20% 1476.9625 23.60% 1470.575 So, trade with confidence above 1485 today and watch candle of 12:17 p.m. today and it will be the trend decider for coming weeks for the stock. Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses. This is only for educational purposes. Let you grow. May! I follow you.
NSE:HDFCBANK
by rekhi567
HDFC Bank - Update - Bullish 1. Candle of 11-1-23 11:22a.m is still providing support. 2. Candle of 3:25 of 6th November 2023 is still acting as resistance with price levels of 1493 as the low and 1493.7 as the high. 3. Today there is no special candle for the stock therefore, wait for the candle mentioned at 2 above to be broken. 4. Stock has attained weekly support at 1480 and previous close is above low of monthly swing. 5. Can expect a level of 1509 in the short term and 1521 and then 1560 in the weeks to come. 6. Swing Levels have been provided in the chart itself. Please find reasons to trade. Once, confirmed then do not hesitate to click your trade. Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses. This is only for educational purposes. Let you grow. May! I follow you.
NSE:HDFCBANK
by rekhi567
Mastering RSI with 11 StrategiesWhat is RSI indicator:- RSI is a momentum oscillator which measures the speed and change of price movements. RSI moves up and down (oscillates) between ZERO and 100. Generally RSI above 70 is considered overbought and below 30 is considered oversold. Some traders may use a setting of 20 and 80 for oversold and overbought conditions respectively. However this may reduce the number of signals. You can also use RSI to identify divergences, strength, reversals, general trend etc. Calculation:- There are three basic components in the RSI - Avg Gain, Avg Loss & RS. Avg Gain = Average of Upward Price Change Avg Loss = Average of Downward Price Change RS = (Avg Gain)/(Avg Loss) RSI = First Calculation:- RSI calculation is based on default 14 periods. Average gain and Average loss are simple 14 period averages. Average Loss equals the sum of the losses divided by 14 for the first calculation. Average Gain equals the sum of the Gains divided by 14 for the first calculation. First Average Gain = Sum of Gains over the past 14 periods / 14. First Average Loss = Sum of Losses over the past 14 periods / 14. The formula uses a positive value for the average loss. RS values are smoothed after the first calculation. Second Calculation:- Subsequent calculations multiply the prior value by 13, add the most recent value, and divide the total by 14. Average Gain = / 14. Average Loss = / 14. if Average Loss = 0, RSI = 100 (means there were no losses to measure). Average Gain = 0, RSI = 0 (means there were no gains to measure). Logic of this indicator:- RSI is an oscillator that fluctuates between zero and 100 which makes it easy to use for many traders. Its easy to identify extremes because RSI is range-bound. But remember that RSI works best in range bound market and is less trustworthy in trending markets. A new trader need to be cautious because during strong trends in the market/security, RSI may remain in overbought or oversold for extended periods. Chart Timeframe:- RSI indicator works well on all timeframes. Timeframe depends on which strategy or settings are you using. Generally a lower timeframe like 1 min, 3 min, 5 min, 15 min, 30 min, 1 Hr etc is used for intraday trades or short duration trades and higher timeframes like 1 day, 1 week, 1 month are used for positional or long term trades. //------------------------------------------------------------------------------------------------------------------- Strategy 1:- (Basis Strategy of Overbought and Oversold) Overbought:(chart below) Usually an asset with RSI reading of 70 or above indicates a bullish and an overbought situation. overbought can be seen as trading at a higher price than it should. traders may expect a price correction or trend reversal and sell the security. but RSI indicator can stay in the overbought for a long time when the stock is in uptrend - This may trap an immature trader. an Immature trader will enter a sell position when RSI become overbought (70), whereas a mature trader will enter sell position when RSI line crosses below the overbought line (70). Oversold:(charts below) An asset with RSI reading of 30 or below indicates a bearish and an oversold condition. oversold can be seen as trading at a lower price than it should. traders may expect a price correction or trend reversal and buy the security. but RSI indicator can stay in the oversold for a long time when the stock is in downtrend - This may trap an immature trader. an Immature trader will enter a buy position when RSI become oversold (30), whereas a mature trader will enter buy position when RSI line crosses above the oversold line (30). Note: so its better to wait for reversal signal. traders may use 20 instead of 30 as oversold level and 80 instead of 70 as overbought level. new traders may learn to use the indicator as per the prevailing trend to get better results. false signals may be avoided by using bullish signals in bullish trend and bearish signals in bearish trend. //------------------------------------------------------------------------------------------------------------------- Strategy 2:- (RSI strength) RSI crossing centreline 50 in the below chart showing strength and buy/sell signal. Centre line is at RSI 50. if RSI is above 50 its considered bullish trend. (increasing strength) if RSI is below 50 its considered bearish trend. (decreasing strength) RSI crossing centre line (50) upside may be a buy signal. RSI crossing centre line (50) downside may be a sell signal. //------------------------------------------------------------------------------------------------------------------- Strategy 3:- (RSI 40 and RSI 60 Support and Resistance ) RSI 40 acting as support in the below chart In an uptrend RSI tends to remain in the 40 to 90 range with 40 as support (buying opportunity at support). RSI 60 acting as resistance in the below chart In a downtrend RSI tends to remain in 10 to 60 range with 60 as resistance (selling opportunity at resistance). Note: These ranges may change depending on RSI settings and change in the market trend. //------------------------------------------------------------------------------------------------------------------- Strategy 4:- (Divergence) Below chart shows a simple example of Bullish Divergence and Bearish Divergence. An RSI divergence occurs when price moves in the opposite direction of the RSI. A bullish divergence is when price is falling but RSI is rising. which means RSI making higher lows and price making lower lows (buy signal). A bearish divergence is when price is rising but RSI is falling. which means RSI making lower high and price making higher highs (sell signal). Divergences are more strong when appear in an overbought or oversold condition. There may be many false signals during a strong uptrend or strong downtrend. In a strong uptrend, RSI may show many false bearish divergences before finally reversing down. same way in a strong downtrend, RSI may show many false bullish divergences before finally reversing up. //------------------------------------------------------------------------------------------------------------------- Strategy 5:- (RSI Swing Rejections or Double Top & Double Bottom) Bullish swing rejection or Double Bottom: (buy signal) (see the chart below) RSI goes below oversold (30). RSI comes back above 30. RSI falls back again towards 30 without going below oversold (30). RSI comes up back again and breaks above recent high. Bearish swing rejection or Double Top: (sell signal) (see the chart below) RSI goes above overbought (70). RSI comes back below 70. RSI rises back again towards 70 without going above overbought (70). RSI comes down again and breaks below recent low. //------------------------------------------------------------------------------------------------------------------- Strategy 6:- (Trendline Support and Resistance) Below chart shows RSI Trendline Resistance: Connect three or more points on the RSI line as it falls to draw a RSI downtrend line (RSI resistance trendline). Everytime it takes resistance from a RSI downtrend line its a selling opportunity. Below chart shows RSI Trendline Support: Connect three or more points on the RSI line as it rises to draw a RSI uptrend line (RSI support trendline). Everytime it takes support on a RSI uptrend line its a buying opportunity. //------------------------------------------------------------------------------------------------------------------- Strategy 7:- (Trendline Breakout and Breakdown) Below chart shows RSI Trendline Breakout: Connect three or more points on the RSI line as it falls to draw a RSI downtrend line (RSI resistance trendline). Whenever it breakout above RSI resistance trendline its a buying opportunity. Below chart shows RSI Trendline Breakdown: Connect three or more points on the RSI line as it rises to draw a RSI uptrend line (RSI support trendline). Whenever it breakdown below RSI support trendline its a selling opportunity. Note: Correlate both the RSI and the closing price to ensure proper breakout or breakdown. Challenge is to correctly identify if a breakout or breakdown is sustainable or its a false signal. //------------------------------------------------------------------------------------------------------------------- Strategy 8:- (RSI Crossover same timeframe) RSI with two different RSI length crossing each other on same timeframe. when lower RSI length crossing above higher RSI length its a buy signal. when lower RSI length crossing below higher RSI length its a sell signal. for example RSI with length 7 & length 14 on 15 Minutes timeframe. //------------------------------------------------------------------------------------------------------------------- Strategy 9:- (RSI Crossover Multi timeframe) RSI with same RSI length but on two different timeframes crossing each. when lower timeframe RSI crossing above higher timeframe RSI its a buy signal. when lower timeframe RSI crossing below higher timeframe RSI its a sell signal. for example RSI with length 14 on 5 Minutes and 1 Hr timeframes. //------------------------------------------------------------------------------------------------------------------- Strategy 10:- (RSI EMA/WMA Crossover) RSI and EMA chart below: RSI and WMA chart below: RSI and SMA chart below: when RSI crossing above EMA/WMA/SMA its a buy signal. when RSI crossing below EMA/WMA/SMA its a sell signal. //------------------------------------------------------------------------------------------------------------------- Strategy 11:- (RSI with Bollinger bands) Bollinger bands and RSI complimenting each other and giving a Buy signal in below chart: Bollinger bands and RSI complimenting each other and giving a Sell signal in below chart: if a security price reaches upper band of a Bollinger Band channel and also the RSI is above 70 (overbought), a trader can look for selling opportunities (reversal) (sell). but in case price reaches upper band of a Bollinger Band channel but RSI is not above 70 (overbought), there may be chance that security remains in an uptrend, so a trader may wait before entering a sell position. if a security price reaches lower band of a Bollinger Band channel and also the RSI is below 30 (oversold), a trader can look for buying opportunities (reversal) (buy). but in case price reaches lower band of a Bollinger Band channel but RSI is not below 30 (oversold), there may be chance that security remains in an downtrend, so a trader may wait before entering a buy position. so bollinger band with RSI can give a double confirmation on a reversal. Note: In this way you may use stochRSI or RSI with MACD for better accuracy. RSI can be used with many other indicators to increase accuracy. //------------------------------------------------------------------------------------------------------------------- Limitations of the RSI:- RSI works best in range bound market and is less trustworthy in trending markets. So new traders may get trapped in an uptrend or a downtrend if they forget to see the overall long term trend of that security. Traders should set stop loss and take profit levels as per risk reward ratio. Note: Don't confuse RSI and relative strength. RSI is changes in the price momentum of a security. whereas relative strength compares the price performance of two or more securities. //------------------------------------------------------------------------------------------------------------------- Like other technical indicators, RSI also is not a holy grail. It can only assist you in building a good strategy. You can only succeed with proper position sizing, risk management and following correct trading Psychology (No overtrade, No greed, No revenge trade etc). ABOVE SHARED EXPLANATION AND STRATEGIES OF RSI ARE FOR EDUCATIONAL PURPOSE ONLY. YOU MAY PAPER TRADE TO GAIN CONFIDENCE AND BUILD FURTHER ON THESE. Coding Note:- //you may do simple coding in tv to make an effective indicator with alerts using RSI/EMA/Bollinger Bands etc. //I feel Simple strategy or indicator is the best. //As per me Indicator's are not good or bad. Its the Risk reward where most of the traders fail. Position sizing and Risk Reward can make an indicator effective or ineffective upto an extent. //Below is a simple code in "version 5" which can be coded. //Condition (Amend conditions as per your requirement). Buy= ta.crossover(rsi,X)//Exit Sellposition//X can be EMA, SMA, WMA etc (for example define ema as EMA=ta.ema(close,50))//X=EMA Sell= ta.crossunder(rsi,X)//Exit Buyposition//X can be EMA, SMA, WMA etc(for example define wma as WMA=ta.wma(close,50))//X=WMA or //if want to use different rsi length but same timeframe rsi1=ta.rsi(close,7)// RSI length 7 rsi2=ta.rsi(close,14)// RSI length 14 or //if want to use same length on different timeframes rsi1=request.security(syminfo.tickerid,'5',ta.rsi(close,14))// RSI length 14 on 5 min timeframe rsi2=request.security(syminfo.tickerid,'60',ta.rsi(close,14))// RSI length 14 on 1 hour timeframe Buy= ta.crossover(rsi1,rsi2)//Exit Sellposition Sell= ta.crossunder(rsi1,rsi2)//Exit Buyposition //Plot plotshape(Buy,title='Buy',text='Buy',location=location.belowbar,style=shape.labelup,size=size.tiny,color=color.rgb(27, 130, 1),textcolor=color.new(color.white,0)) plotshape(Sell,title='Sell',text='Sell',location=location.abovebar,style=shape.labeldown,size=size.tiny,color=color.rgb(233, 7, 7),textcolor=color.new(color.white,0)) //Alerts alertcondition(Buy, "Enter Buy Exit Sell", "Buy") alertcondition(Sell, "Enter Sell Exit Buy", "Sell") //For NonRepaint : //you may use previous candle closing. So that indication appears on next candle. for eg. may use close instead of close . //Soon will be posting strategies on Supertrend, Bollinger Bands etc. which are simple and easy to code. //Tc Happy Trading and Happy Coding. Hope you like it Happy trading :-)
Editors' picks
NSE:HDFCBANKEducation
by MasterTrader1949X
14
HDFC Bank- Bullish Marked is a horizontal Red Line which is the earlier swing low of the stock at 1489.25. Closing Price is above that. if that is not broken there is nothing to worry about. Level to expect in short term 1560 as marked by grey triangle. Trade with confidence. Swing Levels have been marked on the chart. Mark high and low of 3:25 p.m. candle of yesterday. Buy above that. Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses. This is only for educational purposes. Let you grow. May! I follow you.
NSE:HDFCBANK
by rekhi567
HDFC Bank HDFC Bank has made triple bottom in the daily chart yesterday and the time candle which was very important yesterday for Indian Market is 11-1-23 11:22 AM. It created a support for the stock. Price Levels have been marked on the chart. There is no special candle for the stock today so take 11.22 a.m. candle as the support and buy above it and previous candles, 10-29-23 12:28 PM and 10-26-23 1:35 PM are to be treated as support and resistances. If price is below these candles, these candles should be treated as resistances and if broken then very heavy supports. Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision. I will not be responsible for any of your profits/losses. Let you grow. May! I follow you.
NSE:HDFCBANK
by rekhi567
HDFC Bank 1. Marked on the Chart are Fibonacci levels of HDFC Bank for last two days. 2. Be very neutral and do not have any bias watch these levels buy above 50% level and sell below that. 3. For those interested in investment; If we go by the previous swing Levels Taking High of 1683.1 and low of 1257.2. 1470.15 is the 50% Level. Therefore, 1470.15 is the most Crucial Level and Resistance for the time being is 1520.40 and support is 1421.59. Price High 1683.1 78.60% 1591.9574 61.80% 1520.4062 50% 1470.15 38.60% 1421.5974 23.60% 1357.7124 Low 1257.2 Disclaimer: I am not a SEBI registered Analyst. Please consult your financial advisor before making any decision.
NSE:HDFCBANK
by rekhi567
HDFC Bank 1. Price Levels have been marked on 1H Chart of HDFC Bank. 2. Drawn is a green channel. Please buy above this only. 3. Use William's %R for execution, Rule to follow: Its value should be between -79 and -29. If the signal line goes above -79 buy, and if it comes down below -29 from above, sell. Should be seen in atleast daily chart. 4. Time wise past candles showing hurdles and future candles for Indian Markets are mentioned here below: 10-4-23 9:59 AM,10-6-23 3:08 PM, 10-12-23 12:53 PM, 10-18-23 10:39 AM. 10-23-23 2:42 PM . 10-26-23 1:35 PM 10-29-23 12:28 PM 11-1-23 11:22 AM. Ignore any candle falling on holidays. If price is below any of these candles treat them as resistances and if above as supports.
NSE:HDFCBANK
by rekhi567
HDFC Bank - Update Acceptance and Rejection areas along with price levels have been marked on weekly chart. Trade with confidence. Yesterday's candle of i.e 10-23-23 2:42 PM as was informed in case of Reliance was very important for overall Indian market. You must have noticed and can vouch that in almost all the major stocks, that trend changed sharply from this candle. But, not to worry at all, today being holiday, sell off came. But, now again watch this candle and mark high and low of this candle and buy above this whenever that level comes. Next three candle which are important for Indian market are 10-26-23 1:35 PM, 10-29-23 12:28 PM, and 11-1-23 11:22 AM. Please mark these candles and buy only above high of respective candles. Whichever candles I recommended from September 2023 to October 2023 till now, I am sharing here on consolidation basis and check them on varied stocks you will be amazed that trend changed from there only. If found correct, or otherwise please comment so that I can share my best material with you for mutual benefit of all of us. 9-8-23 1:58 PM, 9-11-23 12:49 PM, 9-14-23 11:40 AM, 9-20-23 9:23 AM, 9-22-23 2:31 PM, 9-28-23 12:15 PM, 10-1-23 11:07 AM, 10-4-23 9:59 AM, 10-6-23 3:08 PM, 10-9-23 2:01 PM, 10-12-23 12:53 PM, 10-18-23 10:39 AM, 10-23-23 2:42 PM. If you join these candles in a round in any of the Indian stocks or indices, you will be benefited to find the result. Please do this exercise for your benefit. Disclaimer I am not a registered analyst and make any decision in consultation with your financial advisor. I will not be responsible for any of your profits or losses.
NSE:HDFCBANK
by rekhi567