Gann-Elliott-Trader
Short

First Sign of Exhaustion in HDFCBANK Charts

NSE:HDFCBANK   HDFC BANK
Today in a very strong market, HDFCBANK opened with GAP UP but could not show much strength as it has been showing for a few days. On Hourly charts two Doji has been formed with long up wicks that indicates exhaustion. Tomorrow if price of HDFCBANK opens with GAP DOWN, this may create an island reversal (Speculative only and it depends upon Tomorrow's opening and high).
If it opens with a gap down, then, there may be an exit or a short opportunity in HDFC Bank .
Tomorrow if market opens strong but HDFCBANK opens weak, then, its time to exit long trades but, ideally, we should wait for the market to turn weak before shorting in this stock.

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