HDFCBANK looking weak (for swing trade)

Güncellendi
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.
İşlem aktif
İşlem aktif
Increased short quantity with SL at 1470
İşlem aktif
Aggressive shorting leading to fat gains with 3% move in favor. Still in the trade.
İşlem kapandı: hedefe ulaştı
chartingChart PatternsHDFCBANKTechnical IndicatorsshortTrend Analysis

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