Clearly, We have seen on the daily chart of HDFC bank is at break out level. Stock is on bullish mode & trading above the 50 EMA level. Also we can seen the W pattern forming on the chart. Once the stock able to break the upper resist. level as shown in the chart & able to sustain than we can see the target price of 1124-1130 .So add the stock in your watch list to see the price action movement . Although buy signal has been triggered above 1063. But now long entry can be taken above the 1082 level too.
Always do trading as per your Reward to Risk ratio means Never risk more than you can afford to lose on a single trade. Please keep patience & wait for the levels means Sit and wait for the right opportunity. Request to like & follow for more such ideas of technical analysis learning.The idea sharing is for educational purpose only. In case any suggestion advice required feel free to ask .
Sold today at 1078 as resistance was there near 1080 due to negative market sentiment and DOW. But if it breaks then will regret :( will try to buy above 1082 if sustains
Brought HDFC BANK 1080CE @ 43 (Expiry 30th July)
please suggest your views...its positive or negative ?
A)if +ve when i have to book profit ? suggest me target levels
B)if -ve when i have to exit ?? suggest me Stoplosst levels
currently its running around 38.25(30th July 10:28am)
Tech_stock_trader
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@subhashsurabhi, Currently selling pressure in market. let it be settle down. Trade with SL.
subhashsurabhi
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@Tech_stock_trader, pls suggest ne SL levels
once market settles please suggest your views
i brought for very high premium ..
Tech_stock_trader
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@subhashsurabhi, Once stock goes below 1060. That u keep SL as per level of Call option. Further u keep your analysis as per your Risk to reward ratio. As Selling pressure in market as Dow future & SGX is also struggling...