HDFC BANK - AN INVESTMENT PICK AT MOUTHWATERING VALUATION?
تم تحديثه
The HDFC Bank extended decline today, after marking its biggest single-day drop since March 2020.In the last two days alone, HDFC Bank has corrected more than 12%.
This decline is fine but there's another picture to it which no one is talking about.
While there is so much panic among investors and traders but this panic can be a good investment opportunity.
There exists a curve resistance at long term charts around 1700-1720 levels which HDFC respected this time also and fell from that level.
On the other hand, If we talk about technical patterns, There is a clear Inverse Head & Shoulders pattern in making at long term charts. Such long term chart patterns don't fail most of the time.
HDFC current market price is 1500 and It is trading at a support zone of 1480-1500 & valuation is good at cmp.
Inverse Head & Shoulders pattern breakout level is 1690-1700.
Breakout of this pattern will take it to 2200 levels which is approximate 46-47% upside from current level. Incase It falls further, then It can be added more at 1450-1420-1400 levels.
This could be a great investment for long term investors.
This decline is fine but there's another picture to it which no one is talking about.
While there is so much panic among investors and traders but this panic can be a good investment opportunity.
There exists a curve resistance at long term charts around 1700-1720 levels which HDFC respected this time also and fell from that level.
On the other hand, If we talk about technical patterns, There is a clear Inverse Head & Shoulders pattern in making at long term charts. Such long term chart patterns don't fail most of the time.
HDFC current market price is 1500 and It is trading at a support zone of 1480-1500 & valuation is good at cmp.
Inverse Head & Shoulders pattern breakout level is 1690-1700.
Breakout of this pattern will take it to 2200 levels which is approximate 46-47% upside from current level. Incase It falls further, then It can be added more at 1450-1420-1400 levels.
This could be a great investment for long term investors.
تم فتح الصفقة
CMP 1477I have invested 60% allocation in HDFC and created long position just now.
I am ready to invest more at 1450-1420 levels if comes.
تم فتح الصفقة
CMP 1448Invested 20% more just now.
Can be added more if 1420-1400 arrives.
تم فتح الصفقة
Invested last 20% at 1388 today.Fully 100% Invested now!
تم فتح الصفقة
CMP 1470تم فتح الصفقة
CMP 1447Still trading above my average buying price and trading in a small range.
تم فتح الصفقة
Still trading in a good demand zone & consolidating.تم فتح الصفقة
CMP 1447تم فتح الصفقة
Still trading within 1420-1450 range.trading at my buying price.
تم فتح الصفقة
CMP 1460تم فتح الصفقة
CMP 1528Investment position 100 rupees in profit.
تم فتح الصفقة
CMP 1552124 rupees in profit.
تم فتح الصفقة
CMP 1530It gave breakout from 1420 - 1450 accumulation zone, touched 1555 resistance & then retraced and now heading back up. I think it will make a W pattern & will enter to advancing phase.
تم فتح الصفقة
CMP 1458تم فتح الصفقة
CMP 1540تم فتح الصفقة
CMP 1665Investment position 237 rupees ~ 18% in profit.
تم فتح الصفقة
CMP 1780352 rupees in profit.
ملاحظة
CMP 1600Another attempt to breakout resistance zone failed.
One more chance to accumulate at lower levels for investors.
تم فتح الصفقة
CMP 1785
357 rupees in profit.
25% up from my investment level
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