An Analysis : Awaiting Breakout in HDFCBANK

HDFCBANK is forming a perfect descending triangle pattern over last 3-4 months and desperately need a breakout from the pattern.

Descending triangles can breakout any side so lets wait till the breakout happens and it became more valid with 3 touches on flatline.

Keep HDFCBANK in your list to look out for shorterm and if it gives ample opportunity to enter after Breakout, Hop on and ride whichever side it breaksout.

Check your risks also and plan well before taking positions.

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