1. HDFC Bank Price took the reversal from level from the previous low on Hour Chart.
2. On Drawing AB-CD Pattern on the same.
3. On complete formation AB-CD Pattern, D Point will be the reversal level.
Assuming BD = 1.27 , D = 887
Assuming BD = 1.61 , D = 901
Assuming BD=1.00 , D=877 (If Formation Happen)
4. As we know RBI have lower the Repo Rate on last Friday. Bank may provide more loans to customer. But banks are not ready for collateral free loans. So, Banks will use it as Leverages. Banks Margin will Increase.
5. Buy Above 850 Target: 854 , 859 , 866 , 877 Stop Loss 842
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Secondly, 901 level is not an intraday Target. 10% gain in this share in a day does not seen possible. HDFC bank is not that much Volatile. All target are given at point Number 5. I alway suggest to trail the stop loss with every level. Safe trading is the best way of trading.