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NSE HDFC – Trend Continuation Or Peculiar Reversal?

Free nse hdfc chart calls

Free nse hdfc chart calls

Timeframe: Daily

We already traded and booked profit in our previous article on HDFC. Price has broken down “d” leg of the 4th wave triangle and started forming an impulsive wave (5). The Retracement of wave (4) was only 23.6% which shows that bulls are taking prices to a new high. It is possible to confirm the bull run if the price closes above 2728.

If the price sustains above the high of wave 3, traders can trade for the following targets: 2755 – 2776 – 2820+. Traders can wait for a pullback in case of spring to maintain risk to reward level.

Once the price is closed below wave “e”, bears will take place for a massive sell-off.

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