HDFCBANK is in the uptrend.
The price found support on the upsloping trendline. We may get a weekly bullish engulfing candle which should imply more upside action.
We expect the price to reach the upsloping resistance which would be our entry for a short position. From there we would target the support of this rising channel.
The invalidation of this thesis would be if we get a weekly candle close above the upsloping resistance line.
RSI found support at 48 which also shows that the trend may have more legs therefore we expect the price to continue the uptrend
good luck
The price found support on the upsloping trendline. We may get a weekly bullish engulfing candle which should imply more upside action.
We expect the price to reach the upsloping resistance which would be our entry for a short position. From there we would target the support of this rising channel.
The invalidation of this thesis would be if we get a weekly candle close above the upsloping resistance line.
RSI found support at 48 which also shows that the trend may have more legs therefore we expect the price to continue the uptrend
good luck
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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.
💥 Free signals and ideas ➡ t.me/vfinvestment
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.