Double Top was witnessed on 21-Jan-2019 in HDFC Bank Ltd script with Entry Point at 2124.10 Target is 2085.50 and SL 2162.70 with risk of 38.60. Target was 24-Jan-2019.
, , Dow Theory
, , Dow Theory
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Hi,
Conditions were not met…….. Try to find more accurate double top patterns. Refer the attachment screenshot or else Please refer training handout book
The double top has two same highs Or it looks like an “M” shape. Since the stock is unable to make a higher high, this tells us that the bulls are getting tired. The bears may be coming in to drag the stock lower. The Double top has a minimum duration of 20 days and it rarely exceeds 3 or 4 months long. Anything less than 20 days of duration doesn’t act as a double top pattern.
Thanks Naresh, I have analaysis other 2 charts today. One is Old and one is in current market analysis. Please check and advise.