Inclined Channel in HDFC

6 giu 2021

Notes:

• NSE:HDFChas been in an inclined channel since the first week of May
  
• It is now at a critical resistance 2583-2640 (Almost a 2% zone)
• Last time the level was tested, it resulted in a strong rejection candle (March 31st and 29th April)
  
• The latest candle (almost a marubozo ) shows more confidence for a bullish break.
  

Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.

8 giu 2021

Nota

Looking like the channel is broken. Retesting the channel wall right now.

9 giu 2021

Trade chiuso manualmente

Need to wait for the next opportunity.

16 giu 2021

Nota

Seems to be a descending channel now. Will check out the chart in detail and add a new idea for the same