The Wait or the Weight!
It the long wait on the heavy weight HDFC Bank.
There are many souls and brave hearts looking for this one to join the race.
It rose many times, fell many times, the hope remains, however the last three days action, was a quick burner for the late entrants.
The PIP graph with back-drop black it the HDFC Bank, three black gapping black crows, for sure will be looking to exit the longs around the 1700-1730.
In between, the support which was supply zone will act for a corrective rise, three days of large candle usually ends in a contra move.
The NIFTY Bank PIP is the bi-weekly showing bearish engulfing, as is the case, just the appearance of the pattern is not sufficient, one has to tick the 9 conditions box and see how relevant they are.
On the usual graph is the intra-day holding on the trendline and hence today action is vital.
Tad in favour of rise than fall.
Support 52450-52250-52100
Supply 52800-53015-53150
There are many souls and brave hearts looking for this one to join the race.
It rose many times, fell many times, the hope remains, however the last three days action, was a quick burner for the late entrants.
The PIP graph with back-drop black it the HDFC Bank, three black gapping black crows, for sure will be looking to exit the longs around the 1700-1730.
In between, the support which was supply zone will act for a corrective rise, three days of large candle usually ends in a contra move.
The NIFTY Bank PIP is the bi-weekly showing bearish engulfing, as is the case, just the appearance of the pattern is not sufficient, one has to tick the 9 conditions box and see how relevant they are.
On the usual graph is the intra-day holding on the trendline and hence today action is vital.
Tad in favour of rise than fall.
Support 52450-52250-52100
Supply 52800-53015-53150
TA Primer ping me on +96895753093 +918106170817 details @sribhashyam65 twitter handle
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