Stock was in consolidation since last 2 years and now it looks like getting ready for big up move..Entry above 3244 for traget of 3700/3800, SL marked on chart analysis.. Kindly do your own research before investing.
HDFCAMC is trading above both 21 and 55 days EMA. The stock rebounded after touching 200 day EMA. It is trading near trendline, if it crosses above and stays above 3000 levels, one can attempt a breakout trade with a 2% stoploss. It is also showing increased relative strength against Nifty50.
To be noted that a shift maybe in the works in terms of sector...
DATE: 08 JUL 2021
TIME FRAME: DAY
BUY ABOVE: 2953
STOP LOSS: 2866
TGT 01: 2988
TGT 02: 3018
TGT 03: 3060
INDICATORS FOR CONFIRMATION OF TREND
INCHIMIKO: CLOUD BREAKOUT
PSAR: BELOW CANDLE
We are not S E B I registered analysts. VIEWS EXPRESSED HERE ARE FOR OUR RECORD PURPOSES ONLY....
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.
I am not sebi registered analyst
My studies are...
Looks like ABC correction has completed and another series of impulsive wave to start. Taken support at 50% Fib retracement level and broken out of diagonal trendline resistance. Fundamentally speaking, one of the leaders in Asset management and belongs to reputed HDFC group.
HDFC Asset Management Co. Ltd. engages in the provision of asset management services. It also offers portfolio management and advisory services to clients. The company was founded on December 10, 1999 and is headquartered in Mumbai, India.