Before we understand HDFC in Multiple time frame, its takes hours to analysis a single chart so please like it.
Those who are doing day trading they can sell Hdfc by doing average easy target to reach 1300 level with upcoming days.
When you look toward HDFC in a weekly time frame
Elliote Wave:
=>> As you can see in above chart Impulsive wave (1, 2, 3, 4, 5) done by HDFC bank With fib level 0.382 Which is at wave 4
According to wave principle Now it's riding on Corrective Wave(A, B, C) B which is looking downtrend trend target 1050 Weekly Obviously its takes Time at this level Just for the view.
EMA: As you can see I put EMA indicator of 50, 100, 200 Which gives good support to HDFC and Now its Break With retest done by 200 EMA Which is a good sign for Showing Selling Setup.
Price Action breakout:
=>> In above chart As you can see it breaks a lower-Value after touches previous control price and shifted back to new control price its good sign of changing reversal pattern after a good uptrend.
Inside Bar: Weekly inside bar close below the previous one which is Showing selling pressure.
Thanks
Those who are doing day trading they can sell Hdfc by doing average easy target to reach 1300 level with upcoming days.
When you look toward HDFC in a weekly time frame
Elliote Wave:
According to wave principle Now it's riding on Corrective Wave(A, B, C) B which is looking downtrend trend target 1050 Weekly Obviously its takes Time at this level Just for the view.
EMA: As you can see I put EMA indicator of 50, 100, 200 Which gives good support to HDFC and Now its Break With retest done by 200 EMA Which is a good sign for Showing Selling Setup.
Price Action breakout:
Inside Bar: Weekly inside bar close below the previous one which is Showing selling pressure.