HDFC BANK _ Falling Wedge Pattern formed and Breakout yesterday. Today Reached Falling wedge Pole Target and Channel Top.
Hdfcbank has given a meaning full correction on intraday basis and is taking the support on major levels, It has been in deep consolidation from last 2years and now looks like operators gave a false news for the fall and bought it in a block deal on lower levels which is generally the trick to buy on lows.
HDFCBANK:: Bullish view From 1580 and 1540 range:: ----->> HDFCBANK currently trending downwards.... we have a bearish gap left @1680 zone.... that will again push the price downwards....look here for sell @1680 zone... we have demand zones placed @1540 range will take the price again upto 1740 range... look here for buy to continue in the short term long. short...
I have made some changes in this analysis. Kindly disregard my previous analysis linked below. Now price is at key support level of 1300. If breaks it can easily fall to 1000-1100 levels where trendline support will add confluence. Accumulate at 1000-1100 levels for the following targets: Short term swing target @ 1475 (40% ROI with 4.25 R:R) Medium term...
Buy and hold hdfc bank above 1530. Target is 1570. Breaking above 1575 will give H&S pattern breakout will take it up to previous all time high.
as we can see there is a bearish divergence of Price with MACD and it got its confirmation as the price has fallen and tested the immediate Support Area, and MACD and signal lines has crossed in MACD indicator which is the sign of trend reversal and price correction. the trend is range bounding in a ascending parallels channel and currently touching the top bond ...
HDFC Bank is currently trading at support zone and the trend is turning to bearish. From the 200 Weekly MA HDFCBANK made a pullback, from this level few days or weeks of range bound distribution phase can be seen, RSI is below 30 and price is below the Ichimoku Cloud and it is turning to bearish, Alligator is bearish. If one or two weekly candle closes below...
Disclaimer - I could be wrong/Trade at your own risk...