Stocks are in a bearish trend since the start of the year, after the Federal Reserve came out with a hawkish policy outlook to fight inflation . And other central banks have followed in the same decision, only adding to the bearish tilt.
However, if the recession risk gets worse then this policy may quickly come to an end. And should this occur, stocks may be...
HDFC AMC is breaking out of Major resistance at around 2000.
these levels were tested during Covid fall (March 2020) and therefore is strong level
good opportunity to go Positional long with RR of 2.2
If Breaks Then The Targets could be Taken at 2108
Time Frame :- 1 Day
Patterns Name :- Double Bottom
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Based on Your Own Risk this is only to Show you the Current Pattern
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Analysis is done only for educational purpose. Don't trade directly or blindly on levels. Make sure you have your own study before entering into trade.
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To the left is the weekly chart........confluence of two channels and the 78.6% retracement makes one believe that correction is over for the stock...
To the right is the daily chart where we can see a shark pattern in the making........likely target 3595...
This is a positional call......one should accumulate in small lots as the stock moves up...
Hello Guys , Today I Have The Technical Chart of HDFC AMC it is in the Double Bottom from a few days ago but now I think it will go Up because it has made a bullish signal after a very long bearish trend and now lets talk about the target . So its target could be 1812 . BTW It is Based on your Risk To trade on it or not and Don't Forget to Like the Idea and Follow...
HDFC Asset Management Co. Ltd. engages in the provision of asset management services. It also offers portfolio management and advisory services to clients. The company was founded on December 10, 1999 and is headquartered in Mumbai, India.