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miraldesai
Feb 10, 2022 7:04 AM

HDFCBank LONG Ready for Break out ( Delivery Long)  Long

HDFC BANKNSE

Description

Technically on the daily charts we see major support on the downside @ 1465 and 1414 levels, whereas major Trend Line resistance on the upside is capped around 1540 level.
If breaches minor resistance on the upside and closes above it, we may see fresh breakout and Stock can Lead towards higher levels around 1580/1621 and 1669 levels in Short Term.

Next major resistance @ trend line @ 1540/1550 level to watch.
Stock made Higher low every time it corrected Suggesting Bears getting weaker with every fall, daily closing above 1540mark momentum can be fast on upside.

Rsi above 50 to be watched for entry exit with proper risk management.

Above views For Educational Purpose Only.

Regards,
MD.
Comments
shreyas94rockstar
Your conviction for Long was great Still holding banknifty with you pls update once u exit...gr8 job thanks
miraldesai
@shreyas94rockstar, patience to trade the levels is the key, Hdfcbank and kotak bank yet to break out hold will update in live comments
amy13
Excellent work your Banknifty view is rocking!! Keep it up 👍🏼
miraldesai
@amy13, Thanks Happy Trading.
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