HDFC Bank has reached its swing resistance level on Sep 12. It was followed up by a trending candle on Sep 13.
The recent wave formation on the B.c was an internal triangle before it hit the resistance. It the Ascending Triangle continues, which is a likely possibility, the stock would come down to 2165 to form B.d as explained in chart. The next wave would be a Bull Trap B.e to complete the complex correction, then implusive C would bring the stock down to 2000 or below.
Investors beware! Do not fall for the BULL TRAP. 2000-2050 would be impressive levels to invest in HDFCBANK during Nov -Dec 2019.
The recent wave formation on the B.c was an internal triangle before it hit the resistance. It the Ascending Triangle continues, which is a likely possibility, the stock would come down to 2165 to form B.d as explained in chart. The next wave would be a Bull Trap B.e to complete the complex correction, then implusive C would bring the stock down to 2000 or below.
Investors beware! Do not fall for the BULL TRAP. 2000-2050 would be impressive levels to invest in HDFCBANK during Nov -Dec 2019.