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
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.
NSE:HDFCBANK Near to Supply Zone, if survive then move up or a pull back to be supported by tradeline, if not then further down.
If Break SZ upwards & Sustain above 1260 then further up. BUY above : 1260
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...
Hi friends,
What I see in the chart is HDFC BANK broke the uptrend line,
So, one can short with stoploss of downtrend pink line on closing basis.
Your Humble Trader
KIRAN
Bearish BAT Earlier this Pattern given good reaction on Type1 entry & Hit TARGETS ..Whenever price entered this zone strong REJECTION making strong potential reversal zone
Now price need to came into Zone. then it becomes a TYPE2 Entry which is REVERSAL, after getting confirmation
Potential SELL
Hdfc bank spot cmp 1040
Bullish AB = CD pattern formation
PRZ in range 1022 to 1029
Pattern violation at 1000 levels
Upside levels of 1055,,1070..1100 can be seen
