HDFCBANK - SELL WITH A SL OF 2141 FOR A TARGET OF 1885HDFCBANK - LONGTERM VIEW AS ON 15 DEC 2018
HDFCBANK SEEMS TO BE MAKING A TRUNCATED 5TH WAVE IN THE C WAVE. IF IT DOES NOT BREACH 2142 BEFORE IT BREACHES THE RED 2-4 TRENDLINE (OF WAVE 5 OF WAVE C), IT IS IN FOR A DEEP TROUBLE. THIS WILL IMPLY THE BELOW
1. IT IS MAKING A TRUNCATION, WHICH WILL TAKE THE STOCK PRICE BACK TO 1885 PRETTY QUICKLY. NEED TO OBSERVE THIS CLOSELY
2. IT IS A START OF A NEW IMPLUSE ON THE DOWNSIDE. THE DOWN MOVE FROM 2240 TO 1885 IS AN IMPULSE AND SINCE IT HAS RETRACED MORE THAN 61.8%, IT CANNOT BE WAVE A, WHICH MEANS THE DOWNMOVE WAS WAVE 1
BASIS THE ABOVE TWO FACTS, IT CAN BE CONCLUDED THAT HDFCBANK IS IN FOR A GREAT FALL IN CASE 2075 COMES BEFORE 2141.
