NSE:HDFC
Reasons being: Diamond Bottom Formation
What is Diamond Bottom?
- The Diamond Bottom pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern.
Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks
upward out of the diamonds boundary lines, it marks a significant reversal to a new uptrend.
Every Price Action Pattern after breakout provides some Target Range and according to Diamond Bottom:
Target range: 2250 to 2275
View negated Below: 1725
#Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any position. This is just for Education Purpose.
Reasons being: Diamond Bottom Formation
What is Diamond Bottom?
- The Diamond Bottom pattern begins during a downtrend as prices create higher highs and lower lows in a broadening pattern.
Then the trading range gradually narrows after the highs peak and the lows start trending upward. When the price breaks
upward out of the diamonds boundary lines, it marks a significant reversal to a new uptrend.
Every Price Action Pattern after breakout provides some Target Range and according to Diamond Bottom:
Target range: 2250 to 2275
View negated Below: 1725
#Disclaimer: I'm not a SEBI Registered Research Analyst, These are my views, please consult your Investment Advisor before buying and selling any position. This is just for Education Purpose.