HDFCBANK, Can we expect some recovery

27 Eki 2016

If the 5th wave is completed with the previous support of 1210 - 1225. We can expect some upside recovery.
Corrective waves shown as a,b,c are just the directive guidelines.

Kindly confirm at your end before initiating the trade.

27 Eki 2016

Not

That was real quick

29 Eki 2016

Not

If I am right, corrective 'a' wave was divided into 5 parts as shown in the chart. Although it's quite early to predict 5-3-5 correction. Possibly we can have 3 parts of 'b' wave coming up next.

Please do take channel resistance into an account as well.