HDFC intraday LONG call for 14th March 2018. HDFC is showing a possible mild bounce back on the 5 and 15 Minute Chart, the bounce back can take the stock to near around 1965-70. Stop loss should be below 1840 as that's the previous bottom and breaking this decisively would mean another 10 rs break down on the least.
HDFC
Strategy for one of the best Indian banksHopefully we see $35 on this one. This company will likely be an absolute monster in the future.
HDFC - Ranging Out from Ascending TriangleOn Hourly chart, the price action is ranging in an ascending triangle. With the last big red candlestick it shows weakness and indicates bearishness.
HDFC Bank: Approaching Long term topNSE:HDFCBANK
The impulse that started in early February is nearing completion.
We are already seeing signs of RSI divergence on daily charts.
More importantly, it is also completing 5 wave cycle, as seen on this weekly chart.
Most likely scenario is that we will see a final spike to 1260-80 zone followed by an extended downturn.
An Analysis : Awaiting Breakout in HDFCBANKHDFCBANK is forming a perfect descending triangle pattern over last 3-4 months and desperately need a breakout from the pattern.
Descending triangles can breakout any side so lets wait till the breakout happens and it became more valid with 3 touches on flatline.
Keep HDFCBANK in your list to look out for shorterm and if it gives ample opportunity to enter after Breakout, Hop on and ride whichever side it breaksout.
Check your risks also and plan well before taking positions.
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