BuyingClimax
HDFCBank results was expected to be better and it posted very good results. Many brokerage houses gave ratings and target upgrade on the stock.
Hence, buying interest was enormous in the stock, as almost 5.5 million volumes was generated in first 15 minute candle.
Ideally with so much buying interest stock should have held its high and moved higher. At least should have closed near day high. But it closed below lower half of the spread. It means, those who went long earlier took the opportunity and booked profit at higher levels.
As per VSA it has formed a buying climax candle. Good luck to the buyers who bought it today near day high. Follow up candle will be interesting to watch. If price trades and sustains below 1465 then it will be confirmed as buying climax and short trades can be initiated in the stock.
Hence, buying interest was enormous in the stock, as almost 5.5 million volumes was generated in first 15 minute candle.
Ideally with so much buying interest stock should have held its high and moved higher. At least should have closed near day high. But it closed below lower half of the spread. It means, those who went long earlier took the opportunity and booked profit at higher levels.
As per VSA it has formed a buying climax candle. Good luck to the buyers who bought it today near day high. Follow up candle will be interesting to watch. If price trades and sustains below 1465 then it will be confirmed as buying climax and short trades can be initiated in the stock.
Catatan
Disclaimer: Objective of posts is to educate and help members learn technical analysis, from my personal trade picks. All these stock ideas or trade updates are for educational purpose only and completely non-advisory in nature. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE / BSE / MCX market basis the posted trade ideas. These stock ideas or views are momentum picks chosen using technical analysis and indicators and for my own trading purpose only. Technical indicators are lagging and may generate false buy/sell signals. Market is supreme and my views may go horribly wrong. Please don't consider these trade ideas as trading recommendations. You may consider it for learning or at max use it for paper trading. Strictly avoid it for trading using real money. I am not responsible for any kind of profit and losses or SEBI audits arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades (or trade at your own risk).Catatan
#HDFCBank down by 120 points.Catatan
Stock fell around 139 points before bouncing post budget.
I am reachable on below social handles.
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Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
I am reachable on below social handles.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
EMail_ID:- prasuna.barik@pbfin.in
Telegram: t.me/PBFin_222
Twitter: twitter.com/PB_Fin
Indicator access process given here tinyurl.com/VSASetup. Follow it for details.
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