HDFCBANK - Now under Sellers' control

מעודכן
Chart is self explanatory

Each time when the price is trading below 1765 levels, these sellers pushed it deep down.

Target area being 1670, 1620 and 1600.. Lets see how strong this seller is this time

I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
עסקה פעילה
The down-move is on the expected lines.. what next

Bulls look safe as we are still trading above the breakout zone of 1680-1700 zone.. BUT

Breaking down from the consolidation zone and the 50DEMA decisively is the worrisome sign. RSI is also trading below 40, abd breakdown seen on RSI charts as well.

A retest of 200 DEMA can't be ruled out as it hasn't retested the breakout yet.

Also, the trendline breakdown is visible.. maybe a retest of the breakdown of trendline (Black) and then fall towards the next trendline support (at 1640), which, also happens to be previous buy zone..

Charts with markings are attached for reference..

תמונת-בזק


תמונת-בזק

I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.
Chart Patterns

I am not a SEBI Registered Analyst. Views are personal and for Education purpose only. Please consult your Financial Analyst before making investment decision
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