The idea here is about HDFC Bank.
Mentioned below are the points to be considered
Points as per TA on a Daily & 4H Chart:
1. Awaiting break out of Falling wedge.
2. Butterfly Pattern completed with entry point confirmed.
3. Waiting for close above 20 EMA = 1550 on 1D chart.
4. RSI is at 44.30 on a Daily Chart.
5. MACD crossed above signal line on 11th Sept...
Observations::
------->> It is in a down trend, price is going down after a consolidation stage.
------->> Look for buy we have a strong up move detected in the zone 2635.
keep watch this level for be on the buy side, wait for confirmation before going to buy.
Consolidation + down side = Up move may possible.
keep track this level.
HDFC is consistently holding these levels, we can go long if it crosses 2450, the target would be around 2500 levels.
The support level is strongly set at 2440. So, in all likelihood the stock should not go below that level.
HDFC is right at a support level, if the level breaks, then the next level of support is at: 2314
We can take a trade when the stock goes below: 2378.
SL at 2397
HDFC has formed raising wedge pattern currently it is on demand level, expected to consolidate between current demand and next immediate supply level as long as not closing above immediate supply zone expected to break the wedge pattern and reach the downwards target.
lets' see...
HDFC bank and AXIS bank are struggling to move higher from February's high where the SBIN and ICICI made 20-30% higher from February high.
As there is no recent events and could expect the stock move sideways for next two months.
Range - 1370 ~ 1620
Support - 1350-1400
Resistance - 1550-1630
Hdfc Ltd, this stock is looking good to go long with mentioned key levels on chart, overall looks positive.
Key Levels are Mentioned on chart
Macd in Weekly Uptick and positive
Macd in daily Uptick and also above zero line
Rsi in daily uptick and near 60
Dmi adx also positive Ungali setup
Price above mid bollinger
Disclaimer
I am not sebi registered...
After a long consolidation for almost 6 months , the stock has formed an triangular structure
and has given a breakout with good intensity of volume in hourly time frame, assuming wave e to be complete around 2400-2440 area ,
one can buy the stock on cmp and add on dips if any, maintain the stoploss of 2350 and look
for the target of 2626, 2793, 2929, and...
Looking Bullish
One can go Long only if 15 min candle Closes above 2822.
All the key levels are mentioned in chart with Stop-loss and Targets.
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Consult with your Financial advisor before trading or investing
Buy above 2495 with Stop-loss of 2476,
Targets can be 2502, 2521, 2545, 2575
Disclaimer
I am not sebi registered analyst
My studies are Educational purpose only
Please consult with your Financial advisor before trading or investing
