HDFC, 30 min chart

AS discussed in my previous chart, resistance zone has been established with the downward breaking gap. Look out, price may be rejected at 1250 to1252.50l levels and may find support at 12370(todays low levels) and previously established supports

Kommentera:

Price trying to find support and creating a base around 1247.15 levels

Kommentera:

1249 and 1247.60 important intra day support and resistance zone being tested... lot of candles in the zone, to my mind market still trying to break the zone....

Kommentera:

As our expectations were, resistance area was tested and price was rejected and thrown down. 1239.50 turned out to be a support zone on the 30 min chart. Look out for more action on this

Kommentera:

AS expected, price couldn't break the falling window, and after failing so, has been rejected and thrashed downwards.

1245 is the new resistance line and next support at 1174