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HDFC Bank Limited

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HDFC BANKHello and welcome to this analysis From COVID lows in this weekly time frame its appears to be in its terminal 5th wave. After making an expanding diagonal (horn) in a sideways corrective its now set for an attempt for a new high which could see a medium term top formation in it. As per Elliott Wave after 5 up waves a stock goes into a corrective, since this is weekly (3 years of rally) the next correction can be deep in terms of both price and time. We might see a lot of positive news being announced over the next few weeks as it advances into new territory, which is the norm when a stock appears to be concluding its entire wave structure. An ultra bullish count would suggest stock sustaining above 1800 else this path is likely to be correct. Short term trading bullish Medium term exit on rally
NSE:HDFCBANKLong
by Dinesh_C_Nagpal
1
HDFC BANK : UP Trend Continue..!5 Steps Analysis of HDFC BANK 1. On Daily TF we can see that the stock was consolidated from Nov.2022 & make base for up move. 2. On Daily YF we can see the stock has made CUP Pattern formation with High Volume which Indicates further up move. 3. Momentum Showing Strong Strength on Daily, Weekly & Monthly Basis. 4. Successfully gave closing above 20DMA from last 4 Days with High Volatility. 5. Stock Maintain 1650 level and gave closing above 1650 at tomorrow then further Up side move can see at 1705 levels.
NSE:HDFCBANKLong
by DeepikaMehtaCFA
1