FOLLOWING ARE THE OBSERVATIONS IN HDFC.
1. THE DOWNMOVE FROM 2050 SEEMS TO BE AN IMPULSE WHICH SHOULD BE WAVE A.
2. IF THAT IS THE CASE, WAVE B SHOULD NOT RETRACE MORE THAN 61.8% OF WAVE A, WHICH GIVES THE MAXIMUM PRICE TO BE 1900
3. THE C WAVE IN ABC UPMOVE IN A SMALLER TIMEFRAME, WHICH IS A PART OF THE BIGGER B WAVE SEEMS TO BE MAKING AN ENDING DIAGONAL, WHICH RESTRICTS THE 5TH WAVE OF THIS C WAVE TO A MAXIMUM OF 1897
CONCLUSION
HDFC CAN BE SOLD WITH A STOPLOSS OF 1900 FOR A TARGET OF 1645. A RR OF 1:18, :-)
1. THE DOWNMOVE FROM 2050 SEEMS TO BE AN IMPULSE WHICH SHOULD BE WAVE A.
2. IF THAT IS THE CASE, WAVE B SHOULD NOT RETRACE MORE THAN 61.8% OF WAVE A, WHICH GIVES THE MAXIMUM PRICE TO BE 1900
3. THE C WAVE IN ABC UPMOVE IN A SMALLER TIMEFRAME, WHICH IS A PART OF THE BIGGER B WAVE SEEMS TO BE MAKING AN ENDING DIAGONAL, WHICH RESTRICTS THE 5TH WAVE OF THIS C WAVE TO A MAXIMUM OF 1897
CONCLUSION
HDFC CAN BE SOLD WITH A STOPLOSS OF 1900 FOR A TARGET OF 1645. A RR OF 1:18, :-)