Critical point for HDB ADR. HDFCBANK India Largest private sector bank of India. Hitting key point. If it breaks through can lead to a massive run up. Invested 50% in the trade.
HDFC bank currently up against a resistance zone. Suitable trading side will be towards SHORT. WIth SL @ 1255. For 1stTarget of 1140. Risk Rs 20 Reward Rs.95 RSI showing neg divergence. One can also go long on short term basis if SP closes above 1255 on 1 hr time frame with SL @ for a target of 1290+
BEARISH BAT strong potential reversal zone as 4hr bat formed exactly at Daily Bat PRZ (RED RECTANGLE ) price need to follow Green Trend line & hit target If price Breaks Red Trend line is where EXIT before SL hits POTENTIAL SELL
CONFLUENCE OF Two Strong BEARISH Patterns CRAB & BAT Forming Strong POTENTIAL REVERSAL ZONE Confirmation from RSI BELOW 70 & with Bearish Candle with LOW VOLUMES Potential SELL
Buy hdfc bank target 1255 and 1260 in intraday Res. break
Hdfc bank spot cmp 1245 Deep crab pattern formation pattern violation above 1280 levels down side fall of 7 to 10% possible
HDFC BANK ( DAILY) 18th October 2020 Cup and Handle breakout indicated as on 3rd Sept 2020 till 9th Oct 2020. Waiting for handle to breakout . Await next candle for confirmation Accordingly . Last 2 candles indicate a Bullish Harami pattern , Await next candle for confirmation Trend Line as drawn on 24th March 2020 till now for support Trend line drawn...
- 50 EMA crossing over 200 EMA on daily time frame suggesting strong buy signal - long at 1150 would be a good buy - should break into upper channel in next couple of weeks to ride a good bull rally.
Two Strong BEARISH Patterns DEEP CRAB & BAT Forming Strong POTENTIAL REVERSAL ZONE..Earlier Bat Pattern given good reaction on Type1 entry & hit Target now its TYPE 2 ENTRY.. End of Rising Market--a narrow spread gapped up bar on Ultra High/Very High volume closing in middle or off the high having a strong bull run in the background. Trade No Demand or Up-thrust...
BEARISH BAT price need to follow Green Trend line & hit target If price Breaks Red Trend line is where EXIT before SL hits POTENTIAL SELL