HDFC Bank, Swing/positional (Read description for the details)
HDFC Bank has given a beautiful breakout from the descending triangle, then retested and again risen. Today it has resisted 1511 level. If price falls we have support of 50 EMA just below. A support from the 50 EMA can be traded for the first target of 1511. If HDFC Bank rises from current level and closes above 1511 to give a breakout from 1511, it can be traded for targets of 1562, 1600 and 1640.
Make sure to trade what happens and not what you expect :)
Note: Please do not follow my idea blindly, analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
Make sure to trade what happens and not what you expect :)
Note: Please do not follow my idea blindly, analyze yourself as well. I just share my idea so that people can build upon the same. The idea I share is open to healthy criticism and feedback :)
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