Long

hourly triangle Bottom line is a fresh buy in HdfcBank

Updated

Hello dear traders
i am presenting this time
Hdfcbank Hourly chart
there is a falling expended triangle running currently
so expecting in case price comes near the bottom line of the triangle
is a good buy

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in to recent earning posted by at 16-10-2023
HDFC Bank Q2 earnings: Net profit rises 50% to Rs 15,976 crore
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so its a buy between 1460-1480
stop loss below 1420 on hourly closing basis
for the target of upper line of the falling expended triangle
which is currently around 1640
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i am not a Certified registered analysist
this is just my observation for practice and learning purpose of chart reading,
Must take advice from your financial advisor before trade

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thank you for reading my idea
if found any related query allow me to answer

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Note

Rsi 14 setup on Hourly chart

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Macd setup on Hourly chart

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bollinger band setup on Hourly chart

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sma setup on hourly chart
sma 200 black, sma 100 red, sma 50 green , sma 20 blue

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fibonacci extension setup on hourly chart

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price tested abjectly internal channel upper line and retrace from there

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Hdfc Bank Previous resistance is now new support

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daily chart pevious resistance turn in to support chart

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book full profit @ 1625

full target achieved for upper trendline

Trade closed: target reached

sk_4587

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