a great formation has been formed by hdfc stocks.
its a great bullish pattern, and as i have mentioned the waves, and the trend of waves, a long back in one of my idea(linked it below), the stock is following in the same way. it yet needs to go up by 10%, there is 3rd wave pending, and stock will go up soon.
but the risk part is that bank nifty, has been very overbought position, and it yet needs to be falled about 7%, i will bring a detailed analysis, in further coming ideas. but yet, this risked, is hedged, by the fall of SBI & ICICI banking stocks. this 2 very stocks had kept bank nifty at its ATH.
bank nifty will trade between the range of 43000-40000. its just that it needs to come to its major trend, since now it is in an overbought position.
yet this range will be maintained by great weighted bank nifty stocks, like hdfc bank, icici, kotak and sbi.
LAST POINT: have a look a volume bars too, for month, week and day time frames.
so i am bullish on hdfc bank as of now for this month.
(below i have just dropped some idea links related to banking sector for your own analysis).
its a great bullish pattern, and as i have mentioned the waves, and the trend of waves, a long back in one of my idea(linked it below), the stock is following in the same way. it yet needs to go up by 10%, there is 3rd wave pending, and stock will go up soon.
but the risk part is that bank nifty, has been very overbought position, and it yet needs to be falled about 7%, i will bring a detailed analysis, in further coming ideas. but yet, this risked, is hedged, by the fall of SBI & ICICI banking stocks. this 2 very stocks had kept bank nifty at its ATH.
bank nifty will trade between the range of 43000-40000. its just that it needs to come to its major trend, since now it is in an overbought position.
yet this range will be maintained by great weighted bank nifty stocks, like hdfc bank, icici, kotak and sbi.
LAST POINT: have a look a volume bars too, for month, week and day time frames.
so i am bullish on hdfc bank as of now for this month.
(below i have just dropped some idea links related to banking sector for your own analysis).
