HDFC AMC - Short Term Tgt 3450 (& higher after a brief Correctn)
Hi Folks,
HDFC AMC has done 1 and 2 of the largest degree and is currently in the 1st up (of 1 smaller degree).
Of this 1st wave up (of 1 smaller degree), we are currently in the middle of it's minor 3rd wave.
Since the 161.8% fib projection of the minor 1 and 2 waves is roughly 3450 which somewhat coincides with the 50% fib extension of the 0-3 wave distance of yet 1 smaller degree, (refer the chart), I have fixed the Short term target at 3450.
For Long term investors, this stock is anyways a Sweet Buy.
Cheers !!
Note : This view would be invalidated if the price breaks 2930, 2890, 2840 (61.8%, 78.6% and 100% ret of the latest up move) with force.
So pls place your Stops accordingly.
HDFC AMC has done 1 and 2 of the largest degree and is currently in the 1st up (of 1 smaller degree).
Of this 1st wave up (of 1 smaller degree), we are currently in the middle of it's minor 3rd wave.
Since the 161.8% fib projection of the minor 1 and 2 waves is roughly 3450 which somewhat coincides with the 50% fib extension of the 0-3 wave distance of yet 1 smaller degree, (refer the chart), I have fixed the Short term target at 3450.
For Long term investors, this stock is anyways a Sweet Buy.
Cheers !!
Note : This view would be invalidated if the price breaks 2930, 2890, 2840 (61.8%, 78.6% and 100% ret of the latest up move) with force.
So pls place your Stops accordingly.
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