HDFC is in major correction can see sub 1000 level.

HDFC the financial major is in correction showing weakness in indicators, the MACD is having a negative divergence, the price is below the PF median line (subjective analysis but) which respect many supports and resistance shows its validity. Agreed?
My target for HDFC is 990 is a 38.2 retracement of all the Bull Run and I believe that it is completed a cycle wave in the past 8 years.

Yorum:

The weekly chart doesn't show much differences, but there is a price drop of nearly 65 points from the day of first posting. Deliberately not giving any directive, advice or price target as it is not my business, and purely for my studies.
Please do not consider any of my views as a call for a buy or sell. Make your own analysts before you enter in to any trades, and just take this as an information to all loving my viewers.

Yorum:

please read monthly* chart in above comment.

Theoretically the wave 5 if extended must retrace fully in speed.