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Short term HDFC setup

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HDFC is looking bullish as the overall activity inside the range has been very positive except the on bearish pin bar near the resistance. I would want a really strong volume expansion on weekly candle(something like 35-40 million) to confirm the present of strong buyers. Currently the volume has been falling from 26 May and I would prefer a strong close above 1927-1930 levels on weekly candle with strong volume. Range breakout on the upside after a bullish move is a great setup for going in long on a trade. Range breakout is a great setup with high probability of moving higher or lower, depending on where the price broke out. Volatility has contracted from 3rd August and now the chances of a strong breakout on either side is very high. The reason why I am bullish is due to the price activity happening inside the range, which I have described on the chart.

I am not a SEBI registered investment advisor and hence do not follow my analysis blindly.
Be aware of what you are trading and the risk associated with it.
Stock market is risky and you can lose a lot of your capital.
Be wise and trade carefully!
Grateful!🙏

注释

HDFC has broken above 1927-1930 zone with strong volumes.

inteliigentrader