HDFC BANK Long
Updated
Indian private bank king is ready to make an impulse in the long direction be in the trend for the rewards
1 Week time frame
Factors which im considering
1) RSI divergence
2) Piercing candle in the support of 50 sma
3) Support in 50 sma
1 Day time frame
It has taken good support in 1 day time frame of 50,100 sma( simple moving average)
reversal pattern in 1 day time frames
4HRS TF
It is forming a bullish correction and continuation pattern along with the support of sma (50,100,200)
1 Week time frame
Factors which im considering
1) RSI divergence
2) Piercing candle in the support of 50 sma
3) Support in 50 sma
1 Day time frame
It has taken good support in 1 day time frame of 50,100 sma( simple moving average)
reversal pattern in 1 day time frames
4HRS TF
It is forming a bullish correction and continuation pattern along with the support of sma (50,100,200)
Comment
Comment: Target levelIt is purely based price action and the previous impulse is copied in weekly time frame to give an idea for the upcoming move, Expecting to reach the Target of 2100
With a RR of 7.7:60.4
and a profit of 7.8 times the risk happy hunting.
Fundamental news :
moneycontrol.com/news/busine...
Merging of all HDFC Sectors under a single ROOF.
and so many big sharks are holding as well
Share holding is expect to increase in the upcoming days along with the merging
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.