HDFC (1320.65)
STRUGGLING - MOVE UP OR RETRACE...
This stock is resisting heavily at 1325 level. 1322 is the level of 78.6% of 1420.15-962 and 138.2% of 1249-1040 (the exact value is 1328. Above this my ultimate target is 1405-1420. The strong support comes at 1245-1225. The crucial support is at 1245. Before it penetrate the level of 1420 it had one more hurdle at 1380 which is 150% and 161.8% of 1249-962 and 1249-1040 respectively. And even i dont think that this stock can go beyond 1420 in the short to medium term, bcoz 1426 is the level of 161.8% of 1249-962. So 1380 and 1420 is the level to watch very closely. I feel upside will be arrested at the above mentioned levels.
STRUGGLING - MOVE UP OR RETRACE...
This stock is resisting heavily at 1325 level. 1322 is the level of 78.6% of 1420.15-962 and 138.2% of 1249-1040 (the exact value is 1328. Above this my ultimate target is 1405-1420. The strong support comes at 1245-1225. The crucial support is at 1245. Before it penetrate the level of 1420 it had one more hurdle at 1380 which is 150% and 161.8% of 1249-962 and 1249-1040 respectively. And even i dont think that this stock can go beyond 1420 in the short to medium term, bcoz 1426 is the level of 161.8% of 1249-962. So 1380 and 1420 is the level to watch very closely. I feel upside will be arrested at the above mentioned levels.
posted by Naveen Pantera at 8:47 PM
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