HDFCBANK looking weak (for swing trade)

On break of the rising wedge, the stock can give smooth down move.

There are confluence of factors favoring the downside.
1. Upper trend-line of the channel
2. Bearish Engulfing on Day chart
3. At the lower support of wedge trend line.

I am looking at downside of 3%-5% from here on. 1300 is strong support.
SL: 1435 on Dec Futures contract.

SL can be moved just above the lower trend line of the wedge if you short after breaking down.

Giao dịch đang hoạt động

Giao dịch đang hoạt động:

Increased short quantity with SL at 1470

Giao dịch đang hoạt động:

Aggressive shorting leading to fat gains with 3% move in favor. Still in the trade.

Đóng lệnh: đạt mục tiêu