HDFC Bank Forming Bullish W or Double Bottom Pattern can go Long on every dip.
Bullish View on stock due to below point:
1) Stock forming Bullish W Pattern . 2) Stock was taken support at 2150-2160 zone & bounce with Good volume [Avg volume greater than 20 day]. 3) Bounce happen from support was Big Green Candle 4) Stock Moved above 200 sma (Golden Crossover) mean stock is in bullish zone.
What indicator are suggesting: 1) RSI moved above 50 & Advance breakout from previous high which mean bullish in near term.(See the chart) 2) On Balance Volume has given Advance Breakout .(See the chart)
Happy Learning );
Disclaimer : This is post only for educational purpose . Do your analysis before taking position or trading.
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