HDB trade ideas
HDFC bankTrade setup:
stock is moving in symmetrical triangle.
Weekly: 50EMA providing support. Doji's are formed at bottom of the trend.
Daily: 200 EMA acting as support. Bullish engulfing candle (engulfed last 4 days red candles) with reasonable volumes.
Entry = 1434 INR
SL = 1339 INR or 1300 INR based on your risk apetite.
Target = 1630 INR
RR = 2.1
HDFC VIEW AS PER PRICE ACTION & CHART PATTERN FOR COMING 6 MONTHHDFC VIEW FOR COMING 6 MONTH
Investment View as per Price action ( Chart Pattern) which should be achieved in next 6-7 month as per my analysis
NOTE : please use your analysis & consult your FA before taking any real trade as above view is for education purpose only
HDFC Bank Trade PlanHDFC Bank (My Observation as on 19-09-2021)
1. On weekly Chart HDFC Bank seems to be following depicted harmonic pattern that has TGTs as 1720 (Min) and 1820.
2. 1516 being B/O level of this pattern and encountered with rising channel upper band resistance during I week of September.
3. Revered from top of the channel and again heading the same upward direction.
4. Break and stay above 1600 for a week will trigger 1640 as short term TGT.
5. Weekly ATR is Rs. 60 means if sustans above 1600, we might see 1640 - 1660 during September only.