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TangoTrader22

HDFC Bank: Approaching Long term top

Short
HDFC BANK (NSE:HDFCBANK)  
TangoTrader22 Updated   
NSE:HDFCBANK   HDFC BANK
HDFC NIFTY nse nifty50 BANKNIFTY
2
1
hdfc nifty nse nifty50 banknifty
HDFCBANK

The impulse that started in early February is nearing completion.

snapshot
We are already seeing signs of RSI divergence on daily charts.

snapshot
More importantly, it is also completing 5 wave cycle, as seen on this weekly chart.

Most likely scenario is that we will see a final spike to 1260-80 zone followed by an extended downturn.
Comment:
Exit longs in HDFC Bank

snapshot
Comment:

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