HDFCBank can test 1307. CMP 1386.
Negation level 1421 ( close above this level on daily close basis)
More from Abhishek
Nifty Futures Positional Trading Using Point & Figure Charts
Following this system on stocks since 2021 and started on Index in 2022
Based on Richard Dennis's Turtle Trading System and the P&F version was created by @Prashantshah267
Details
Chart Settings
Instrument: Nifty Futures ( Current Month)
Chart : Point & Figure
Box Size: 0.10%
Reversal Box: 3
Data Frequency- 1 Min
P&F Charts don't have concept of time but it has a concept Data Frequency, i.e. duration after which to consider plotting X or O on the chart
Since DF is 1 Min here, so we need to wait for 1 Min closing on P&F Charts for Entry, Exit Signals
The chart is an Intraday Chart & requires Intraday data
Which is available on the Real Time Tradepoint Software & on the Web Version of this software
https://t.co/oAshC7rfD1
-
Let's now Discuss Bullish Entry Pattern
The Entry Pattern is called as a Bullish Follow Through Turtle Buy Pattern
This actually comprises of 2 Parts
1. Bullish Turtle Breakout
2. Bullish Turtle Follow Through
For Entry, #1 must happen and there must be a #2 immediately
First Let's Understand the Bullish Turtle Breakout Pattern
This is a 5 X BO Pattern
If current column of X goes above highest ‘X’ in last 5 columns (including current column), then it is a 5-X Turtle breakout.
Following this system on stocks since 2021 and started on Index in 2022
Based on Richard Dennis's Turtle Trading System and the P&F version was created by @Prashantshah267
Details
Chart Settings
Instrument: Nifty Futures ( Current Month)
Chart : Point & Figure
Box Size: 0.10%
Reversal Box: 3
Data Frequency- 1 Min
P&F Charts don't have concept of time but it has a concept Data Frequency, i.e. duration after which to consider plotting X or O on the chart
Since DF is 1 Min here, so we need to wait for 1 Min closing on P&F Charts for Entry, Exit Signals
The chart is an Intraday Chart & requires Intraday data
Which is available on the Real Time Tradepoint Software & on the Web Version of this software
https://t.co/oAshC7rfD1
-
Let's now Discuss Bullish Entry Pattern
The Entry Pattern is called as a Bullish Follow Through Turtle Buy Pattern
This actually comprises of 2 Parts
1. Bullish Turtle Breakout
2. Bullish Turtle Follow Through
For Entry, #1 must happen and there must be a #2 immediately
First Let's Understand the Bullish Turtle Breakout Pattern
This is a 5 X BO Pattern
If current column of X goes above highest ‘X’ in last 5 columns (including current column), then it is a 5-X Turtle breakout.
More from Hdfcbank
The other way to look at this is that..The stock went below 21 month EA in 2008 & 2020 crash
Something is happening really too bad and worst is yet to come for entire market !!
Something is happening really too bad and worst is yet to come for entire market !!
HDFC bank Monthly Chart :
— EquiAlpha -MidTerm Momentum\U0001f40e\U0001f40e (@equialpha) March 7, 2022
In last 20 years - Only 2 times the stock has gone below 21 month EMA as market. This seems the third time (Monthly close will confirm )
Don't know but something seems off !!
Lets check again on month end pic.twitter.com/9eeVfikdnU
#HDFCBANK ~A Thread 🧵
Let's look at the Multi-TF Technical aspect~
In weekly; Price marked by converging trend lines.
Representing consolidation prior to continuing in the direction of existing trend.
Sustenance above 1531 and a break-through at 1579.35 would trigger 1640+
+
In daily; it's showing a counter-trend move that has followed after a sharp price movement.
Rejection level at 1579.35 which needs to be breached for extended upside.
Both Weekly and daily charts are indicating the resumption of the prior trend.
+
It has been on my radar since August series and I have been watching out for these levels to be neatly breached for a bullish move.
The news is also favorable for #HDFCBANK.
In their last commentary, Bank said~ the transportation finance disbursements are 110% of May numbers.
July was 40% higher than the month of June and August was twenty 25% higher than July.
+
Bank is very upbeat about it's growth in rural and semi-rural areas.
Right now they are active in total of 1 Lac villages.
Within two years they aim to expand it to 2 Lac villages as it's going to be major part of their loan book.
+
Let's look at the Multi-TF Technical aspect~
In weekly; Price marked by converging trend lines.
Representing consolidation prior to continuing in the direction of existing trend.
Sustenance above 1531 and a break-through at 1579.35 would trigger 1640+
+
In daily; it's showing a counter-trend move that has followed after a sharp price movement.
Rejection level at 1579.35 which needs to be breached for extended upside.
Both Weekly and daily charts are indicating the resumption of the prior trend.
+
It has been on my radar since August series and I have been watching out for these levels to be neatly breached for a bullish move.
#HDFCBANK
— Gurleen (@GurleenKaur_19) August 10, 2021
The setup looks favorable above 1531 for target's of 1640+#StockMarket #StocksToWatch pic.twitter.com/jbQrbjuYHy
The news is also favorable for #HDFCBANK.
In their last commentary, Bank said~ the transportation finance disbursements are 110% of May numbers.
July was 40% higher than the month of June and August was twenty 25% higher than July.
+
Bank is very upbeat about it's growth in rural and semi-rural areas.
Right now they are active in total of 1 Lac villages.
Within two years they aim to expand it to 2 Lac villages as it's going to be major part of their loan book.
+
You May Also Like
"I really want to break into Product Management"
make products.
"If only someone would tell me how I can get a startup to notice me."
Make Products.
"I guess it's impossible and I'll never break into the industry."
MAKE PRODUCTS.
Courtesy of @edbrisson's wonderful thread on breaking into comics – https://t.co/TgNblNSCBj – here is why the same applies to Product Management, too.
There is no better way of learning the craft of product, or proving your potential to employers, than just doing it.
You do not need anybody's permission. We don't have diplomas, nor doctorates. We can barely agree on a single standard of what a Product Manager is supposed to do.
But – there is at least one blindingly obvious industry consensus – a Product Manager makes Products.
And they don't need to be kept at the exact right temperature, given endless resource, or carefully protected in order to do this.
They find their own way.
make products.
"If only someone would tell me how I can get a startup to notice me."
Make Products.
"I guess it's impossible and I'll never break into the industry."
MAKE PRODUCTS.
Courtesy of @edbrisson's wonderful thread on breaking into comics – https://t.co/TgNblNSCBj – here is why the same applies to Product Management, too.
"I really want to break into comics"
— Ed Brisson (@edbrisson) December 4, 2018
make comics.
"If only someone would tell me how I can get an editor to notice me."
Make Comics.
"I guess it's impossible and I'll never break into the industry."
MAKE COMICS.
There is no better way of learning the craft of product, or proving your potential to employers, than just doing it.
You do not need anybody's permission. We don't have diplomas, nor doctorates. We can barely agree on a single standard of what a Product Manager is supposed to do.
But – there is at least one blindingly obvious industry consensus – a Product Manager makes Products.
And they don't need to be kept at the exact right temperature, given endless resource, or carefully protected in order to do this.
They find their own way.