Monday, August 12, 2019

HDFC BANK elliottwave

Dear friends,
                      HDFC Bank is a super heavyweight in nifty ,Lets see its wave structure.

The stock made a important low below 1900 ,Lets see the wave strcture from 1900.
The structure looks quite clear wavewise,The above chart is self explanatory also the 
3rd wave comes exactly 1.6(1)wave.Wave 3 ended with a ending diagonal .The fall from 2500
is quite sharp ,The fall looks impulsive but i am giving it more time to get confident ,For now 
the gap area near 2350 is stiff resistance ,Only above that i would consider bullish count ,Till then,
lets see how the price behaves and the pattern emerges.


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