Prudent Investments.
( Invest With Prudence. )
HDFC
Interesting & Unique Observation.
However, if one carefully observes, the HDFC Weekly Charts, then historically also , this has happened on quite some occasions.
With
Prudent Investments.
Contact us @ Skype Id :
Or
Call : + 91 - 8585994465.
Visit us on Facebook:
Interesting & Unique Observation.
Here's something Interesting I Found on
HDFC Weekly Charts.
Since 2018, on weekly closing basis, every time HDFC has Broken it's Previous Top,
and then formed Indecisive / Bearish candles , indicating Short to Mid Term downside,
The stock has re - tested it's support zones , and then bounced back even further to break the high from where it fell.
This is evident in the pic. above, where i have marked the Indecisive / Bearish candles, with blue circles and defined them with the text along with it.
Let's see how it happened :
1) On the week ending 21st Jan 2018..........the candle closed above the previous resistance.
The next two weeks, Hanging Man and Shooting star were formed, which resulted in the test of previous Gap & eventually filled the gap and made new high.
2) The week ending 29th July 2018............ resulted in candle closing above the previous high, the very next candle formed a Bullish Side by Side Lines candle stick pattern , having almost identical highs, but the bears had enough of the upside and led to a mid term downtrend in the stock.
Which finally , found support on the Major Support Zone as marked in the pic above.
And then, price zoomed up to break the previous high.
3) And now, the week ending 7th April 2019, candle broke the previous Swing High & closed above it.
Next candle, itself formed a Dark Cloud Cover, and today the low of this bearish candle has been breached. If it closes below it , then it will be interesting to see where HDFC finds next support.
I have marked the next possible Support Zones in the pic above.
However, if one carefully observes, the HDFC Weekly Charts, then historically also , this has happened on quite some occasions.
For info / edu purpose only.
Note :
I am not a SEBI registered Investment Adviser and my accuracy is not guaranteed. My posts are my personal views and for information / educational purpose only.
Therefore, kindly, do your own research or consult your adviser before trading or making any investment.
I am a Trainer & Mentor, for those who wish to learn Technical Research in Capital Markets. My ambition is to make you self - sufficient, by teaching you from Basics of Technical Analysis to High Probability Trade Setups, so that you gain expertise and make money / create wealth for yourself.
Learn the Art of Trading in
Equity, Commodity, Indices etc.
With
Prudent Investments.
Contact us @ Skype Id :
PruInvest@Hotmail.com
Or
Call : + 91 - 8585994465.
Visit us on Facebook:
Follow us on Twitter :
No comments:
Post a Comment