The descending triangle pattern in HDFC Bank shows a strong horizontal support at 1710 and a descending resistance around 1740-1750.
Bearish Trade Setup
Entry: Sell if the price breaks below 1710 with high volume.
Profit Target: 1690 (20 points below support).
Stop Loss: 1740-1750 (above recent highs).
Bullish Trade Setup
Entry: Buy if the price breaks above 1740-1750 with strong volume.
Profit Target: 1770 (20 points above resistance).
Stop Loss: 1710 (below recent lows).
Wait for a confirmed breakout with volume to validate the trade direction. This descending triangle leans bearish, but a breakout above resistance could indicate a bullish reversal. This approach balances risk and reward by following the pattern's typical breakout behavior.
Disclaimer: This analysis is for educational purposes only and should not be considered financial or investment advice. I am not a registered financial advisor or broker. Trading stocks and other financial instruments involves risk, and you should consult with a certified financial professional before making any investment decisions. Always conduct your own research and consider your risk tolerance before engaging in any trades.
Bearish Trade Setup
Entry: Sell if the price breaks below 1710 with high volume.
Profit Target: 1690 (20 points below support).
Stop Loss: 1740-1750 (above recent highs).
Bullish Trade Setup
Entry: Buy if the price breaks above 1740-1750 with strong volume.
Profit Target: 1770 (20 points above resistance).
Stop Loss: 1710 (below recent lows).
Wait for a confirmed breakout with volume to validate the trade direction. This descending triangle leans bearish, but a breakout above resistance could indicate a bullish reversal. This approach balances risk and reward by following the pattern's typical breakout behavior.
Disclaimer: This analysis is for educational purposes only and should not be considered financial or investment advice. I am not a registered financial advisor or broker. Trading stocks and other financial instruments involves risk, and you should consult with a certified financial professional before making any investment decisions. Always conduct your own research and consider your risk tolerance before engaging in any trades.
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Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.