HDFCBANK - Looking good for accumulation Hdfcbank - Looking good for accumulation as it is oversold and trying to move up. 1370 looks crucial. It can rally if 1370 crosses decisively
HDB trade ideas
HDFC DO OR DIE It will either go up or fall down very badly so put a stop loss at 1250 and close ur eyes and sell if it reaches 1450 NSE:HDFCBANK
HDFC Bank: Trading in downward channel HDFC Bank is trading in downward channel since last one month. Keep on radar for channel breakout.
HDFC Bank is expected to fallHi all,
HDFC Bank is in Major Supply & Demand Zone, so i it being expected to fall in coming days.
expected another 17 to 20 % correction.
hdfcbankOne can look at it
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LONG ON HDFCBANK (SWING TRADE)BUY HDFCBANK at 1348rs current market price and set a stoploss at 1270rs it is a big sl so don't buy with more then 10% of your capital. small target 1520rs risk reward.
HDFC bank longTranche 1 - 53 @ 1513 on 8 April
1. Market is in what stage - Identified by what kind of highs and lows that are being formed + movement of price w.r.t 21, 50 and 200 EMA
Price bottomed at 1297... did an inverse head and shoulders and broke out of 200 EMA daily to top out at 1715 and then retracing to 200 EMA at 1500... this was because HDFC bank and HDFc merged
2. Is there any trend reversal in play?
1. Multiple divergence confirmations on MACD , RSI and MFI - Price broke out... now consolidating
2. At important support or resistance - horizontal - Yes 1500 at stable 200 EMA daily line
3. At important confluence of EMAs + price + support - Yes - 200 daily
3. How are the candlesticks behaving and what is the volume doing
Huge volume candle and price candle on 1300 to 1500 range... also biggest merger.. will buy more if the price comes down
4. Is there any trend continuation in play?
Looks like uptrend will continue... price should bounce upwards from 200 EMA daily
5. Is there any pullback or breakout in play with volume confirmation from a strong horizontal level (support or resistance)
No pullbacks or breakouts as of now
6. Fundamental factors in play
1. Revenue growth - EPS vs PE ratio - last 5 years comparison - EPS rising Quarterly and Yearly... because of better sales... OPMs consistent... also PE ratio to EPS is very very attractive since 2017
2. Are institutional investors/promotors increasing their stake - Stake consistent in owners and institutional... big dip in retail and big pick by DIIs
HDFCBANK Head and Shoulders on WeeklyHDFCBANK has formed Head & Shoulders pattern on the weekly chart and is breaking down from its trendline at 1250 zone. Breakdown from here can take the price all the way to measured move target of 990-1000.
Note that 200WMA may also act as support at this 1250 zone and we may see the price halting here, hence 1250 is a crucial support zone for the stock. If held, price can retrace back to previous highs as well.
Watch out for break of 1250 for a medium-term fall in price.
#HDFC bank bounce back possible#HDFC bank bounce back possible.
immediate strong support 1250 to 1230
long term investor can buy this level
RELIABLE CANDLESTICK PATTERNPattern Name: Bullish Engulfing
Pattern Type: Bullish Reversal
No. of Candles: 02
How to Identify it?
1)There must be a preceding Downtrend.
2)A short Red candle followed by a long green candle.
3)The Green candle should open lower & closes higher than the Red candle.
4) The Green candle should completely engulf the Red candle.
The psychology behind it :
1)The Bears lose momentum & the Bulls take charge and manage to close above the red candle.
2)It implies the bulls have fully overridden the bears.
How to trade it?
1)Look for the Bullish Engulfing at the bottom of the Downtrend.
2)Upon confirmation, open a Long position in the 3rd Candle.
3)Place a Stoploss below the low of the Green candle.
HDFCBANK bank long tradeHDFCBANK long trade on multiple reasons supporting it
1) Bounce from Demand Zone
2) Bullish candlestick pattern like morning star
3) Rs 15.5 Dividend on 12th May 2022(Ex Dividend story has different implication kindly consider that)
its time to buy a correction is taking place in HDFCBANK and it may extend to form a complex else it may start to fly from here.
this is an idea chart for education purpose.
Long HDFCBNAKLong HDFCBNAK
Why ? Double bottom pattern is reversal pattern
Buying can be seen as near long term support retest as well
This long will be Pull back long
