Formation of a pattern called Head & Shoulders has been spotted on the charts of HDFC AMC stock. One should go short below 2570 that is below the neckline , keeping a Stop loss of 2670 for a target zone of 2330. (stock is not in FnO , can be treated as sell on rise in intraday basis till the target achieved)
HDFC AMC IS IN BEARISH ROTATION FORMATION, AS IDEA PUBLISHED ON 03-JAN-2020. IT IS FORMING POTENTIAL BEARISH HEAD AND SHOULDERS.
STOCK HAS FORMED ANOTHER BEARISH PATTERN " BAT PATTERN "AT THE TOP OF RIGHT SHOULDER OF LONG TERM BEARISH PATTERN. WHICH ADDS MORE CONFIRMATION TO OUR BEARISH BIAS.
WE CAN ENTER SHORT AS SHOWN IN CHART AS PER TARGET 1 & 2 OR WE CAN...
HDFC AMC STOCK HAS BEEN ON BULLISH TREND SINCE OCTOBER 2018 ON DAILY CHART. IT IS FORMING POTENTIAL HEAD AND SHOULDERS PATTERN WHICH SUGGESTS THAT STOCK MIGHT TURN BEARISH IF IT BREAK AND CLOSE BELOW NECK LINE OF INR 2834 MARK. AT PRESENT WE ARE AT RIGHT SHOULDER OF BEARISH ROTATION PATTERN. WE CAN LOOK TO SELL AT CURRENT LEVEL LOOKING AT THE LEFT SHOULDER WHICH...
Movement has been restricted to the box for a while.Consolidation before moving upwards. Possibly another retest before breaking higher. SL below the box.
![HDFCAMC: HDFCAMC spinnig top [sellsignal]](https://s3.tradingview.com/f/frnuKwWR_mid.png "HDFCAMC spinnig top [sellsignal]")