HDFC Ltd -- Stock at major. Low risk play with stop loss below red bar.

Chart courtesy @mundra_devansh

Bank Nifty - Technical View

1. Previous bottom pre budget was at 29687
2. Recent high 37700+
3. As per dow theory index held previous bottom and
made higher bottom at 30400+
4. Expecting a new high as per HH HL pattern
5. Breakout above 34287 done.

6. Currently forming a triangle and base size is 6500-7000 pts and trendline breakout point is at 33500 adding this size gives us target of 40000-41000 (33500+6500)

7. Trendline from 2018-2019-2021 comes at 39000 so far, hence 39000-40000 levels are very likely in coming days.

8. There is also CNH pattern where neckline is placed at 34300 and Handle size is of 2000pts, cup size is of 4000 pts

36500-38300 are also potential tgts as per this pattern.

So 36500 first and then 38-39-40k next

Copper - Weekly chart

Looking weak, sell below 732 SL 753

Next band of support 714-685

Copper - Daily

Cluster of supports in the area 685-714

RSI is hinting weakness. Break below 680 will invite more downside.

Copper - Monthly

650 previous major bottom.

Close below 680 can expect 630-575-520

500-520 is multiyear breakout. 8/10 times such multi year breakouts are retested.

Too early to comment but keep an eye on 730 then 680 these levels can decide next trend

#Prajindustries -- I normally dont get excited when a stock does 8-10x in a year or 2. They tend to go sideways or correct 40-50% of previous move.

Will this stock touch Red & orange lines? (230-190) or lower.

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