Attached: HDFCBANK/ NIFTY 50 Weekly Chart as of 28th April 2023
The Chart above shows Potential Underperformance lies ahead for HDFC Bank. Investors are better off Avoiding/ Exiting the Stock unless they want to Underperform the Broad Market from here onwards. No alpha is to be made by Holding on/ Buying the Stock at the Current Price
This Ratio Chart points to:
- Lower Highs
- Breakdown Retest
- ABC Corrective Wave completion at 1.618
- Downtrend on this Ratio Chart likely to resume
The Chart above shows Potential Underperformance lies ahead for HDFC Bank. Investors are better off Avoiding/ Exiting the Stock unless they want to Underperform the Broad Market from here onwards. No alpha is to be made by Holding on/ Buying the Stock at the Current Price
This Ratio Chart points to:
- Lower Highs
- Breakdown Retest
- ABC Corrective Wave completion at 1.618
- Downtrend on this Ratio Chart likely to resume
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