Will Sell a Put of HDFC BANK
Reasons to do the same:
-RSI above 60
-MACD Crossover
-High volume
However, the volume isn't larger than the past 5 trading sessions, that is why selling a put seems a better option than buying a futures.
Today $HDFCBANK opened with a gap up with very heavy opening volume. Its been consolidating for a few days and Today's breakout may indicate fresh buying interest in this stock. Buy $HDFCBANK only above 1570 with SL 1540 targets open. This can be traded for Day trading also buy strictly above 1570 only. No shorts please no matter if it starts falling. Operators...
Short above 1520, Target 1 - 1487, Target 2 - 1450, Target 3 - 1430.
Bank Nifty is Still Bullish, so it a risky position.
(Note. This is not a trade recommendation, just for educational purpose only)
HDFC BANK Futures on Weekly Chart
First day of the week and its already starting to get interesting.
Anyways need to see the closing of this candle.
Remain Cautious Till U see the price below Rising and Falling Trendline (Both)
HDFCBank looking weak on short term chart. A Short Sell signal is generated on HDFCBank. Taking advantage of market momentum, trade at market between 1411-20 SL 1425 and Target open as your risk apetite.
This post is for education purpose only and its not a buy or sell recommendation. All Disclaimers apply
Kind of #ShootingStar pattern on daily scale with price rejection from crucial resistance levels. One may wait for a closing below 1600 to go short. Obviously with hedge.
HDFC Bank 1432 by 25th Jan. Along with other banks, HDFC Bank is also being dragged down to a certain extent to 1432. I hope that this does not go down further.
