vikasbhekare

HDFC Asset Management (AMC) swing setup Long

Long
NSE:HDFCAMC   HDFC ASSET MANAGEM
HDFCAMC has been trading in an uptrend for the past few months, forming a cup pattern. It has reached its all-time high. The monthly, weekly and daily RSI is above 60 and taking support at 60 levels in 75-minute time frame. You can see that the volume is also moderate. If it starts increasing as the price approaches its all-time high ( 3844), there would be a high probability trade for a small risk-to-reward ratio (1:2.5). One can also hold if it breaks the all-time high as there would be no resistance above 3844.
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.