HDFC
MAJOR TOP AT 1580, INDICATORS CONTROLLED BY BEAR
I feel this stock is worth to go short in it with the stop loss of1580 which is the Double Top formation. For the target of 1420, whichis the strong support for this stock. If it holds the 1420 levels, then i expect the range bound traing in it betwen 1580-1420. Of 1420takes off then it'll test the 200dma which is at 1300. Look into the Daily RSI we'll see the Divergence in it. Daily CCI is below itsextreme levels. Continuosly resisting the upper band of BB, all thispointing towards the Bear attack.
MAJOR TOP AT 1580, INDICATORS CONTROLLED BY BEAR
I feel this stock is worth to go short in it with the stop loss of1580 which is the Double Top formation. For the target of 1420, whichis the strong support for this stock. If it holds the 1420 levels, then i expect the range bound traing in it betwen 1580-1420. Of 1420takes off then it'll test the 200dma which is at 1300. Look into the Daily RSI we'll see the Divergence in it. Daily CCI is below itsextreme levels. Continuosly resisting the upper band of BB, all thispointing towards the Bear attack.
posted by Naveen Pantera at 8:58 PM
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