This analysis is done purely based on Price Action. All the information/observations are mentioned in the image itself.
We all know that one of the most basic rule of technical analysis is that "History repeats itself".
Try to observe how history seems to be repeating itself in the charts of HDFC.
In order to understand the logic behind the analysis, pls check the below linked detailed analysis of HDFC done weeks earlier. All the logic is explained in that image itself.
This is not a trade recommendation.
This is for study & observation purpose as to how the price moves and how we can study its movement using Technical Analysis .
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
We all know that one of the most basic rule of technical analysis is that "History repeats itself".
Try to observe how history seems to be repeating itself in the charts of HDFC.
In order to understand the logic behind the analysis, pls check the below linked detailed analysis of HDFC done weeks earlier. All the logic is explained in that image itself.
This is not a trade recommendation.
This is for study & observation purpose as to how the price moves and how we can study its movement using Technical Analysis .
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
