Today's Opening - 1820
Today's High - 1829
Today's Low - 1796
Today's Closing - 1810
I am writing on this stock after more than eight years.
Negative closing for the past six sessions, with higher volumes on five out of these six days. The 10-day Rate Of Change has turned negative over the past five days.
The closing has been below the 5-day Exponential Moving Average level for the past five days. The 12, 26-day Moving Average Convergence Divergence has come down to being close to negative.
The 20-day Commodity Channel Index has gone extremely negative over the past four days. The 2-day Relative Strength Index too has dropped below 50% during the corresponding period.
With continuous lower highs and lower lows and continuous Negative Momentum over the past five days, the stock might continue to fall till 1756 and then give a breakout. HDFC Limited has a strong support at 1756 and has a resistance at 1942. The stock has risen well this year and the current dropping trend only indicates the short-term profit booking and should not be looked at as a technical weakness.
Today's High - 1829
Today's Low - 1796
Today's Closing - 1810
I am writing on this stock after more than eight years.
Negative closing for the past six sessions, with higher volumes on five out of these six days. The 10-day Rate Of Change has turned negative over the past five days.
The closing has been below the 5-day Exponential Moving Average level for the past five days. The 12, 26-day Moving Average Convergence Divergence has come down to being close to negative.
The 20-day Commodity Channel Index has gone extremely negative over the past four days. The 2-day Relative Strength Index too has dropped below 50% during the corresponding period.
With continuous lower highs and lower lows and continuous Negative Momentum over the past five days, the stock might continue to fall till 1756 and then give a breakout. HDFC Limited has a strong support at 1756 and has a resistance at 1942. The stock has risen well this year and the current dropping trend only indicates the short-term profit booking and should not be looked at as a technical weakness.
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