HDIL : @ 87.7
Best LONG: @ 86.5 -@ 84.6
#1. Last LEG of Bearish BUTTERFLY (i.e Formation of Point "D")
#2. +VE Triangle BREAKOUT.
#3. LH - HL Formation.
All SUPPORT / RESISTANCE Plotted in Chart.
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Elliot impulse wave could be seen due to retracement seen twice from support levels
If movement bullish, Can aim for Short TP towards resistance 1 = 92, 94
%william indicator is seen to be oversold
SL = Support level (mentioned in chart)
Do take this as opinion
A beautiful triangle on the verge of a breakout.Not much explanation required.One can go long at cmp 87 for first target on the upper end of the traingle. Stop loss 85
If breakout on the upside(which is most likely) then targets are - 95 and then 100.
If breakout on the downside then targets are - 82 and then 75.
The stock has seen some correction from 94 odd levels
Holding 89-87 zone (buy zone) the stock can again aim higher for targets of 93 and above that 100+
A close below 84.80 on closing basis should be considered as Stop loss
Do review your trading plan and plan your trade accordingly...!!!
Take care & safe trading...!!!
HDIL hourly shows a BAT pattern completion. But by the time we noticed it, its already near the first target. So Risk-reward is not in our favor for the current CMP to enter.
A test of 92.5 should give a good entry.
ROR analysis for entry at 92.5
Target 1 88.9
Target 2 85.1
Reward min 3.6
HDIL has made a cup with symmetric triangle formation...and somewhat at bottom trendline, looks like a double bottom...
If it gives breakout and crosses the resistant line then we may see big upside....
Short term target are 92/95
I will update longer target if breakout happens.. :D
Note: Do your own study before making any position...
This trend line indicates something , which i do not know common name , many called it as Rising wedge ??!! , its OK many love it with their names so let them call it as they like
I am viewing it as it failed to hold or close above the Ascending Psychological Price action line
so lets party
HDIL has closed above S/R zone, next green candle and you can buy with target for 90, 92.3 & 96. Trail with SL if it goes any further.
If goes below 85.8, short with targets of 82 & 80.
These are my personal views about this stock, do your own analysis and trade accordingly.
HDIL stock is making a bullish move from range of 75-80 to the upper range of 90-95 in weekly charts...
5 days EMA is crossing 50 Days EMA from below with an expansion of bollinger band which is supposed to be very bullish move.. and RSI is around 60....
80 to 81 is a good buying range with a Stop Loss of 77-78 and further targets would be 90-95...
The stock has shown good strength with a steep rising angle.
Now it has come to the level where it will face 2nd resistance ( the 1st one it crossed by a gap up on the second attempt )
Here, again it will face pressure, look out whenever it breaks out convincingly and go long.
Go to lower timeframes if you're a short-term trader.