HDFC BANK

Update at 9:40:


1. Breakout from triangle at 9:30 so taking an entry at the price 1390.85 with 180 qty

2. Target is 2nd resistance line i.e. at 1403.35 

3. Though price is stuck in range bound i.e. between previous day's high and low, Our target is still below the previous day's high and hence we can proceed with the trade.

4. Stop loss is just few points below the black line inside the triangle i.e. 1378


Update at 10:15 :


1. Huge bearish candle formed but the volume of it is not good, which indicates that it is influenced by small retain investors and not big players, establishing weak position by bears.

2. Also, price engulfed the huge bearish candle formed earlier, giving us signal that, it was not reversal of trend and bulls were only consolidating their strength to continue their rally.


Update at 10:40


1. We can observe that sellers are not letting price to go higher than the 1st resistance level plotted above.

2. If there is huge bearish candle formation with good volume then I will exit, if price breaks resistance then I will continue to hold my position until the target set.


Update at 10:50



We can observe that price broke the resistance which I earlier mentioned about. Hence, we  can continue to hold our position until target set.


Update at 11:50


Sellers are showing strong resistance for quite sometime now. If price comes below lower limit then I will exit


Update at 12:50


1. Exit at 1394.60 because it came below the lower limit that I mentioned above

2. Profit - (1394.60 - 1390.85 ) * 180 = 675