Will it rally or succumb.
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Hdfc bank has much better chart than bank nifty or nifty.
In bank nifty after december 22 there are series of overlapping
of waves only pointing to corrective waves till now.
it is not sure whether correction has ended or not.
But in case of hdfc bank the impulsive rise is clearly visible after june 22.
It appears third 3rd of wave has been completed and there is expanded flat correction for 4 th of 3 rd wave.
This 4th of 3 rd wave seems to be completed.In lower time frame it is visible.
But unfortunately we can see there is h&s type of break down at the top whose neck line is already broken.and the
target of this break down if matterilizes may result in overlapping of waves here too 1 and 4 of wave 3 of 3rd wave.
Not in all h&s shoulder break down hits the target,
But it is a major of concern as this bank is a heavy weight componment of bank nifty.
Now hdfc bank has major role to play.
will it succumb to to the ungoing banking crisis though not in india.
We can observe hdfcbank nifty closely to gauge in which direction bank nifty is going to perform.
Connect with me by liking my post and follwing me.
Pleae go through my recent posts in trading view.
In bank nifty after december 22 there are series of overlapping
of waves only pointing to corrective waves till now.
it is not sure whether correction has ended or not.
But in case of hdfc bank the impulsive rise is clearly visible after june 22.
It appears third 3rd of wave has been completed and there is expanded flat correction for 4 th of 3 rd wave.
This 4th of 3 rd wave seems to be completed.In lower time frame it is visible.
But unfortunately we can see there is h&s type of break down at the top whose neck line is already broken.and the
target of this break down if matterilizes may result in overlapping of waves here too 1 and 4 of wave 3 of 3rd wave.
Not in all h&s shoulder break down hits the target,
But it is a major of concern as this bank is a heavy weight componment of bank nifty.
Now hdfc bank has major role to play.
will it succumb to to the ungoing banking crisis though not in india.
We can observe hdfcbank nifty closely to gauge in which direction bank nifty is going to perform.
Connect with me by liking my post and follwing me.
Pleae go through my recent posts in trading view.
Nota
I have written a comparison between bank nifty and hdfc bank.may be corrected.Rally in hdfc bank too prior to dec 22.And after dec 22 it is in corrective phase like
bank nifty.
Nota
Nota
it is rallying buy its ce
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