HDFCBANK looking weak (for swing trade)

25 Kas 2020

On break of the rising wedge, the stock can give smooth down move.

There are confluence of factors favoring the downside.
1. Upper trend-line of the channel
2. Bearish Engulfing on Day chart
3. At the lower support of wedge trend line.

I am looking at downside of 3%-5% from here on. 1300 is strong support.
SL: 1435 on Dec Futures contract.

SL can be moved just above the lower trend line of the wedge if you short after breaking down.

26 Kas 2020

İşlem aktif

27 Kas 2020

İşlem aktif

Increased short quantity with SL at 1470

3 Ara 2020

İşlem aktif

Aggressive shorting leading to fat gains with 3% move in favor. Still in the trade.

7 Ara 2020

İşlem kapandı: hedefe ulaştı