HDFCBANK
HDFCBANK - PERFECT SELL SETUP BUT ONLY BELOW 906 OR ABOVE 946HDFCBANK - 2 POSSIBLE SETUPS. BOTH ARE BEARISH
SETUP 1 - WAVES MARKED IN RED. SETUP ACTIVE ONLY IF IT BREACHES 906 BEFORE BREACHING 946
VIEW - SELL @ 906 WITH A SL OF 946 AND A TARGET OF 650. TARGET SHOULD BE ACHIEVED BY APRIL 22, 2022
SETUP 2 - WAVES MARKED IN DARK BLUE. SETUP ACTIVE ONLY IF IT BREACHES 946 BEFORE BREACHING 906
VIEW - SELL @ 946 WITH A SL OF 970 AND A TARGET OF 809. TIMELINE CANNOT BE PREDICTED FOR THIS VIEW
HDFC Bank | Still weak | Still in Downtrend`Friends, please support this idea with LIKE if you find it useful.
Downtrend continues. Use the pullback to get in.
Thank you for your support, I appreciate it.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
HDFCBANK Long Term OutlookHDFC Bank is currently trading at support zone and the trend is turning to bearish.
From the 200 Weekly MA HDFCBANK made a pullback, from this level few days or weeks of range bound distribution phase can be seen, RSI is below 30 and price is below the Ichimoku Cloud and it is turning to bearish, Alligator is bearish.
If one or two weekly candle closes below the 200 Weekly MA we will see then the price will go to near 550-650 zone in long term.