nitinavinashlal

nitinavinashlal

By the end of trading day on 15th June, HDFCbank made a bullish spinning top candle ( on daily basis) indicating reversal of downward trend of having lower closing price since last 7 trading days. On hourly basis, HDFCbank stock price crossed its 200 DEMA which is a positive indicator of the strength in the price movement. As per my last post, INR 1478.75 stood...

nitinavinashlal

HDFCBANK showed a double top pattern (highlighted in pink circles) and 1478.75 looks like a good support level for the stock. Bullish engulfing pattern seen during last 3 hours of yesterday's trade ( 14th June) coupled wit RSI in acceptable zone. This is confirming headroom available for higher price. Hence recommending long position ( Entry : 1478-80 levels, Exit...