HDFC Bank has formed a Head-N-Shoulder pattern on the chart. Also, it has broken it's neckline and marching towards southward. Also, chart suggests that the stock is under Flat corrective pattern too. If it is forming an "Regular/Extended Flat Correction" then the correction in the stock can extend from 1353 to 804.
Note:- Above analysis it just for study purpose...
If you see the chart of Maruti, on 12th January, 2022 it made a high of 8329, wave 'A', and declined from there upto 6400 on 3rd May, 2022. Also, from the low of 6400, it recently made a high of 9050, Wave 'B', on 10th February, 2022.
A rule for the flat correction: Irregular 'B' can extend it move from 90% to 138.2% of Wave 'A'.
The total fall of wave 'A' was...