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HDFC BANK Elliot wave based predictions

업데이트됨

As per Elliott WAVE theory if the HDFC bank is running impulsive WAVE 3 and then it is yet to form wave (v) of wave 3. For that it need to move higher than recent high of 1681 and as there is trendline resistance around 1687 so most likely HDFC bank will face lots of resistance in the range of 181-1700 and will come down a little bit in the form of WAVE ABC - impulsive WAVE 4. Post that if starts to create impulsive WAVE 5 then it will target LTH of 1760 and possibly can break it too, There it might again face lots of resistance and then can move to correction phase of WAVE ABC but as long as it remains above 1680 after completion of Elliot wave correction phase then it might restart a new Elliott WAVE but that we can only see post current Elliott wave is finished.

Long Term View :
If said happens then consider retracing back to 1680-1700 level from 1760+ area is retesting and post that HDFC bank can enter to long run for a longer time. But it if fails to hold the levels then it might come down 1 more time towards 1400 range.

* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade at your own risk.

** The waves must be seen on 1/2 minute chart which I can use to publish - minimum 15 min chart is allowed.

노트

wave 4 low 1644 is still protected well and stock bounced back and now trying to complete wave 5 - for which need to go above 1682.

노트

bingo : Target of 1700 achieved exactly where wave 5 is placed and now it seems coming down which means it can be end of wave 5 in blue color (first wave with 12345 pattern)

노트

seems 1 more leg of 12345 is left that is last wave so HDFCBank can go higher from here. Sometimes concluding the 5th wave becomes confusing so I think it is a possibility from here if it moves above 1700, it won't go more than 35 points, means 1730 can be the target from here.

노트

Yes I wrote the comment before it moved beyond 1700 and here it is again a wave but this must be the last one with target to 1720-130 area, let's see

노트

Closing is confusing if wave 5 is already completed at day high or one last leg of 20-30 points is still left, will get to know tomorrow, if it moves up then around 1720-1730 it must get top and then some profit booking in wave form ABC

액티브 트레이드

Wave 5 is almost completed as predicted, tomorrow it will be confirmed as explained above seems last leg is left to be completed.

노트

So it is confirmed, yesterday's high around 1715 was the high of wave 5, exactly where it i placed on the chart. Now the script seems to follow correction in the form of ABC.

노트

HDFC Bank did correction in the form of ABC and now in the last wave with pattern 12345 to be made, it must most likely target life time area 1760.

노트

As predicted the LTH is not just touched but crossed and with this now the script is open for more upside move.
Closing this call as the target of LTH is reached though it might make some more up move from here.

거래청산: 타겟 닿음

Forgot to update the stock achieved the targets in the waves drawn, it not just touched but broke the LTH and then got again into major correction phase as could not survive the new LTH.

노트

It seems the ABC correction with low of 1599 and wave 1 and 2 are almost over from the last leg of 12345 wave, if so with it can be longed for higher targets up to and above 1793 (LTH) with initial stop loss of 1598.
Below 1598 means ABC wave is still not over.

액티브 트레이드

Seems the correction phase (ABC wave) is over and next impulsive wave part 12 also over and wave 3 might be running, for that recent low of 1590 must not be broken and recent high of 1670 once broken can give a sharper up move.
A day/hourly close above upper yellow line will be important.

노트

As predicted it moved up today. Break above1670 is needed for a good run else it might keep dangling.

노트

As mentioned 1670-80 is the area from where it got resistance due to yellow resistance line and fell again.

Please note monthly close above 1760 is needed for a breakout till then this stock will keep dangling.

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