Huge selling in HDFC. How to trade it tomorrow.

One side fall in the stock has impacted the indices too.

HDFC bank, is heavy weight in index, fell 140 point or 8.5% created a sell off.

It took a retest of 200 ema and has closed below both the averages. It may give another red candle tomorrow.

There stock has closed around a support zone and chance of testing 1500 levels are high.

Short position can be created below 1535 levels and targets can be trailed if the market remain in red.

Support levels:- 1505, 1470-80

The results are not that bad to make the stock fell so much. Some long term investors can accumulate some quantity.

Wait for a price action and enter only confirm trades.

Transakcja zamknięta: osiągnięto wyznaczony cel:

Gap down opening has given the second target of 1480 too.

CMP :- 15005

:)

Zlecenie aktywne:

Stock has closed below the weekly 200 ema. It can test the final support levels on the weekly charts of 1400.

If the stock goes beyond the support levels, ultimately it will test 1345 levels too.

Support zone levels :- 1400, 1345.

The stock has already corrected more than 10% after its result and if it corrects more. Long term investors should start accumulating the stock.

Indices are looking bearish and will impact the stock as well.

:)