HDFC ANALYSIS

Stock is trading in channel pattern. Now stock touch the support line and forming higher high.

While being conservative (retracement) trader. We need considered three things.

1. After break the resistance and stock would touch the previous resistance line to conclude
whether resistance act as support.
2. Price should be discount price. ( To check we using Fibonacci tools).
3. Stock should have imbalance or fair value gap. Because stock would come again and fill the gap.

This stock meet all the above criteria.

Entry : 1470 to 1480
Target : 1650 to 1700

Note : But beware stock will be more volatile because of election result.

I am not sebi register advisor. I am sharing for education purpose only.