HDFC (Closing Price: 2896.15) According to Elliott Wave theory, HDFC stock price will keep drilling upward. And we may see Housing Development Fin price at the following levels: 2986 - 3049 - 3153. But intraday traders should worry about the support trendline of the parallel channel because HDFC price may try to retest the support trendline before the trend continuation.
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HDFC has reached the first target of 2986 and made a high of 3002.
Never looked at Elliot Wave analysis..but seems interesting. If you check there is C&H pattern in HDFC according to which the target is 3200+. When we hv confirmation from pattern and wave analysis, seems to be a safe entry. Whats your take ?
ShreeKrishna
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Your Method is incorrect , you can see circle Green 2 is below the starting point of Circle Green 1 , another point is circle Green 1 High is lesser then Primary 1 red color You might need to relook at your forecast