HDFC BANK LTDShort
CHANCES OF BEARISH REVERSAL (Multiple Tops)
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1.Long Term 33 months Resistance observed at 1722
2. Very High Volume Candle formed on 15 Sep 23 & 15 Dec 23 between 1670 & 1650 Levels.
3. Reverse Divergence is observed as Price is making Lower High & MACD is making Higher Highs (Can be Double Top).
In Case of Breakdown of High Volume Candle below 1650 , there are chances of stock to be bearish.
Targets
1. Un filled Gaps has been observed @ 1610, 1570, 1410
2. Double Top Target can be 1460
3. A trend line can also act as support
4. Low of Inside Mother Candle on 3 Month Chart can also act as Major support @ 1515
In case of Break down of 1650 Level the Major Targets can be 1610 , 1570, 1515, 1460
STOP LOSS : 1660 (CENTER OF HIGH VOL. CANDLE)
R/r RATIO : 2.6:1 , 6:1, 10:1, 13.8:1 respectively
1.Long Term 33 months Resistance observed at 1722
2. Very High Volume Candle formed on 15 Sep 23 & 15 Dec 23 between 1670 & 1650 Levels.
3. Reverse Divergence is observed as Price is making Lower High & MACD is making Higher Highs (Can be Double Top).
In Case of Breakdown of High Volume Candle below 1650 , there are chances of stock to be bearish.
Targets
1. Un filled Gaps has been observed @ 1610, 1570, 1410
2. Double Top Target can be 1460
3. A trend line can also act as support
4. Low of Inside Mother Candle on 3 Month Chart can also act as Major support @ 1515
In case of Break down of 1650 Level the Major Targets can be 1610 , 1570, 1515, 1460
STOP LOSS : 1660 (CENTER OF HIGH VOL. CANDLE)
R/r RATIO : 2.6:1 , 6:1, 10:1, 13.8:1 respectively
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.