After a considerable recovery from the lows of 1780, Bears seem to have taken fresh shorts again in HDFC Ltd. NSE:HDFC on Monday, as the stock failed to cross the crucial resistance at 1865 and was pushed down to 1833.
I can see that the price got rejected after retracing 50% of the previous downmove and formed a large Bearish Englufing candle.
Good opportunity to short here with stop loss a few points above 1870 levels for a target below 1780 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.
I can see that the price got rejected after retracing 50% of the previous downmove and formed a large Bearish Englufing candle.
Good opportunity to short here with stop loss a few points above 1870 levels for a target below 1780 levels.
Disclaimer: Views expressed here are my own, and should not be interpreted as an Investment Advice. Please consult your Financial Advisor for investments.