HDFC AMC is looking for great buying opportunity after forming descending channel lined up with the double bottom formation expecting target to reach at 3400
Stock has good potential to move up from this level.
There is a CWH breakout happened on Friday.
As per SMC concept also, there is a clear cut CHoCH and minor BoS which supports this.
Trend is up.
Fundamentally, stock has good ratios.
AMC stocks should give a run up when nifty is making new high as their profit will increase accordingly.
Disclaimer: I already have open position which I will exit or not exit (it depend upon how the price react near resistance)
The breakout is yet to happen. If the breakout successful, I'll hold my open positions and/or add more qty. Otherwise I am ready to exit, provided there are some bearish signals.
If the share consolidate for at least 3-4 days, it can move on...
HDFC AMC looks weak
in 1 month TF, HDFC AMC has made a brearish reversal pattern, followed by good consolidation in 1 day TF.
Take a short position once it closes bellow the trendline
The stock has a clean and efficent fundamentals moreover it has formed series of small pattern and another handle is being formed which will not take long time and we can see the stock reaching 3334 level resistance .
In the Weekly Chart of HDFCAMC,
we can see that, it has given Flag breakout.
Let it retest, then enter with SL and Targets.
Expected momentum is shown in chart.
Elliott Wave Analysis:-
As we said in previous view :-
"if the C wave was broken downside then the triangle may be in reverse and the fall will be the size of the A wave we marked."
2nd View took place and one correction wave was completed.
we may expect a retracement to the level of 2695 - 2720.
else we may expect an impulse move from here and we need to...
HDFC AMC attempt to breakout from its resistance indicates buying interest in this scrip, This stock is trying to break its resistance with high volume, hence, once its cross its resistance at 2720-2730 level on can consider for the the target of 2850-2880 place strict SL at 2650.
HDFC AMC Cmp 2579 dated 28-9-2023
1. Bearish Candle @ support
2. RSI bearish divergence
Sell below 2560 target 2530-2510-2490-2470-2440
SL 2650
It is just a view, pls trade at your own risk.
📈 Exciting Bullish Pattern Alert! 🐂
📊 Pattern: Broadning Pattern
📌 Symbol/Asset: HDFCAMC
🔍 Description: Stock is making Broadning pattern. And we might see good bounce till resistance level.
👉 Disclosure: We are not SEBI registered analysts, this is not a buy or sell recommendation. Technical patterns are just one piece of the puzzle. Consider conducting...
This is given breakout in weekly chart so it is log for target of 3300 with SL of 2530 .
be causias an dtraade with small qty because nifty at oversold level .
Reade with small qty and if take support at breakout lelvel then one can add qty
