HDFC AMC has given a good upside rally of 65% and is form a double top pattern.
The stock is following a bullish trendline but the RSI divergence is creating a bearish sentiment supported by the drop India VIX.
If the stock breaks below the trendline, a bearish trade can be entered with the first target of 5440 following it to 5208.
Bullishness will only be confirmed only once the stock starts trading above 6000 levels.
There is RSI divergence on the higher time frame too and gives more convincing trade in the stock.
Entry :- Below 5809
Target :- 5440 and 5208
Stop Loss :- Close above 5927 (daily charts)
Wait for the price action and trade accordingly.
The stock is following a bullish trendline but the RSI divergence is creating a bearish sentiment supported by the drop India VIX.
If the stock breaks below the trendline, a bearish trade can be entered with the first target of 5440 following it to 5208.
Bullishness will only be confirmed only once the stock starts trading above 6000 levels.
There is RSI divergence on the higher time frame too and gives more convincing trade in the stock.
Entry :- Below 5809
Target :- 5440 and 5208
Stop Loss :- Close above 5927 (daily charts)
Wait for the price action and trade accordingly.
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La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Publicaciones relacionadas
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.