HDFCBANK after that major gap down of 5th,MAY have done nothing. Infact it has been putting pressure on BANKING index which have stayed largely flat since several weeks now. STOCK is going through a BEARISH consolidation which is likely to end very soon. short-term TIME CYCLES would give BEARISH crossover once it gives a daily close below 1600. PRICE setup here is very narrow but well below critical PATTERN levels. STOCK has given a (SQUARING PATTERN) breakdown below 1642 if it gets closer to that it’s a safe short with stop above 1692 and Targets below 1565 and 1525 on cash. A daily close below 1600 would also signal the same.
HDFCBANK view
Published by SAAHIL BELIM
MY NAME is SAAHIL and I have been actively trading in EQUITY MARKETS from 2014. I have been using Gann theory in my TRADING JOURNEY since 2016. my approach to Gann THEORY is totally different than what you may have seen or heard in various YOUTUBE VIDEOS. I have developed multiple MATHEMATICAL MODELS which are based on METHODS described by sir gann in his courses. I never had used any kind of CHARTS to identify the TREND. hens I never share CHARTS to illustrate my view. I like to keep things SHORT and to the POINt! View all posts by SAAHIL BELIM
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