HDFC BANK
1.Stock had a strong base after a long downtrend & after breakout stock is now trading in range.
2.If we apply the Fib extension from breakout to base, can see 1550 was important level which is 1.618 level.
3.We can identify the Pole & Flag where breakout comes at 1550, but as per structure will keep adding on dips till we are trading above 1480-1490 which is strong support.
4.If we are sustaining, can see soon a gap filling on chart.
2.If we apply the Fib extension from breakout to base, can see 1550 was important level which is 1.618 level.
3.We can identify the Pole & Flag where breakout comes at 1550, but as per structure will keep adding on dips till we are trading above 1480-1490 which is strong support.
4.If we are sustaining, can see soon a gap filling on chart.
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.