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HDFC AMC have formed a piercing pattern on 75 minutes time frame, which converts downtrend into uptrend. The stock gave confirmation after breaking 2439 and closed above it. Also, there is huge gap of approx 100 points which the stock might try to fill. Stock can rise up to at least by Rs.100 from current levels. Lets see how it goes on Monday.
Stock Trading inside range..... Watch for immediate targets with a max of 2% stoploss.... ,Planning to book profit immediatEly on reaching targets. Further positions can be taken if stock breaches the upper target by a min of 5% for another 15% upside move
Deleted my previous chart somehow so fresh perspective , still same idea though!
End of June expecting Nifty to pull back after rejection at 10500-700 zone so this chart plays along perfectly with my narrative.
The stock will remain bullish because:
1) Techinal indicators are bullish on multiple time frame with CCI=152 etc.
2) it has broken a range and a breakout can be seen clearly.
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