HDFCBANK trade ideas
Attempting to break the RANGEWith price trading new lower level of range around 1500 with strength in complete control of sellers (from analyzer) and trend maintaining in bearish territory, odds favor breakdown.
SL will taken when POS (Trendline) is breached on closing basis on 1 timeframe lower i.e. 15min.
HDFC BANK (LONG)HDFC BANK took support at 200 EMA
volume is reducing continuously
ready to fly
BUY near 1480 - 1500
SL 1460
TGT 1555 - 1632 - 1700
90 % chances are that it will bounce back tomorrow and along with this banknifty is also expected to bounce back.
Don't Miss it
Please Correlate by yourself also on charts. This is for Educational and Paper Trading Purpose Only. Must Consult your financial advisor before Investing.
Nifty 50 - 3rd Stock - HDFC bank -Pullback about to complete nowHi All,
My Observtion on HDFC Bank:
1. Triangle pattern formed since Feb '21 with supports mentioned
2. Breakout done @ Rs.1510 on 16th Aug and went up to Rs.1690 and pullback/retest started on 16th Oct.
3. It's fallen since then and has breached the previous breakout point.
4. Likely to go up from Rs.1500.
Note:
I'm not recommending buying this stock. This is for education purposes.
This is my view, based on my learning.
Please do not trade without your own conviction.
Please invest after careful research. I'm not responsible for your profits/losses.
- Gnanasekaran