HDFC - CMP - ₹1724 Dt. - 18-09-2020
On a daily chart, you can notice that the stock is moving in the range from June first week. Red lines are marked to show the range. If you noticed the price has so many times touched the below red line and changed its direction and vice versa. But the stock has tried to break the upper red line which is acting as resistance line but started falling from very next trading session. Today stock has broken the below red line and given close ₹1724.
It's a good opportunity for swing traders as well as the long term investor who is planning to take the trade.
On a daily chart, you can notice that the stock is moving in the range from June first week. Red lines are marked to show the range. If you noticed the price has so many times touched the below red line and changed its direction and vice versa. But the stock has tried to break the upper red line which is acting as resistance line but started falling from very next trading session. Today stock has broken the below red line and given close ₹1724.
It's a good opportunity for swing traders as well as the long term investor who is planning to take the trade.