HDFC Bank 53 Day’s Time Cycle working like magic!
Dec 21, 2023
HDFC Bank 53 Day’s Time Cycle working like magic!
Time Cycle helps to understand if the overall trend is going to reverse back on upside. This is advanced technical analysis method for timing the market.
HDFC Bank is following 53 Day’s Time cycle very well and we can clearly see that prices are forming low every time it approaches near to this cycle. See detail research below which is picked up from our daily Equity report which our subscribers receive daily before market opens.
See below how we have predicted this early move with the help of Time cycle!
HDFC Bank Daily chart (Anticipated as on 5th December 2023)
Analysis as on 5th December 2023
HDFC Bank has been rising over the past few days. In the prior session, the stock finished the day up by 3.47%.
HDFC Bank is following 53 Day’s Time cycle very well and we can clearly see that prices are forming low every time it approaches near to this cycle. Time Cycle helps to understand if the overall trend is going to reverse back on upside. As shown in above chart prices are bouncing back every 53 days. Recently prices made a low near our cycle which was near 1460-1470. Following that, the stock reversed to the upside and is still in an uptrend.
Prices closed above the previous day's high in the previous session, indicating a positive signal. Furthermore, prices have recently closed above the Ichimoku cloud. So, Time cycle, Indicators, and Price action are all in sync, indicating that the outlook for this stock is positive.
In short, trend for this stock is positive. Use dips as a buying opportunity for a move towards 1650 levels as long as 1560 holds on the downside.
HDFC Bank 53 Days cycle (Happened as on 21st December 2023)
Happened
HDFC Bank moved precisely and after a dip moved up and achieved our target of 1650. In today’s session prices made high of 1676. HDFC Bank is the only stock from banking sector which has managed to stay at the top even when major Indices showed a sharp fall. We have witnessed power Time cycle which can be seen above chart.
For now, trend for HDFC Bank remains positive and soon we can expect a move towards 1700 levels.
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