HDFCAMC Fib Support

19 thg 7, 2020

HDFCAMC experienced quite a lot of hesitation at higher levels after bouncing up from ~2430. After retracing from higher levels, we can see it attempting a recovery once again.

If the support is held, it could be a good swing long as long as the incoming resistances can be breached. As of now, it is just under the 13DMA (not added in the chart). So a positive Monday closing could increase strength.

HDFCAMC has typically underperformed vis-a-vis the other HDFC sister companies, but it remains to be a fairly strong pick among the various asset management companies.

20 thg 7, 2020

Ghi chú

HDFCAMC had a negative day today, but it is still making higher highs and higher lows.

23 thg 7, 2020

Ghi chú

After a mild negative candle (mentioned in the above update), HDFCAMC has continued to show us some favorable signs. It now rests above 2489, which is a level I would be very cautious around.

27 thg 7, 2020

Ghi chú

HDFC AMC is back where it started. So far, we've established that 2530 appears to be an important resistance zone and 2400 is a very strong support level. Going by this, as long as 2400 is held we could expect another test of 2500+ soon.