HDFC BANK LTDLong
HDFC BANK: Need to hold the range 1600-1675
After sharp selling from YH3 1790 , drawdown of -182 i.e -10.25%, HDFCBANK need to hold the range 1608-1675 and trade above 1675 for buullish momentum to continue.
Failing to hold 1600-1608 can see intermediate support of 1545/1525 downside. If took support from 1545-25 and trade above 1675 ,will be a better confirmation to continue bullish momentum..
With Union Budget to be presented on July 23 2004 ,it may consolidate in between 1608 and 1675.
Also need a positive Q1 result , that is likely to be announce on July 20-22.
HDFCBANK need to hold the range 1608-1675 and trade above 1675 for buullish momentum to continue.Failing to hold 1600-1608 can see intermediate support of 1545/1525 downside. If took support from 1545-25 and trade above 1675 ,will be a better confirmation to continue bullish momentum..
With Union Budget to be presented on July 23 2004 ,it may consolidate in between 1608 and 1675.
Also need a positive Q1 result , that is likely to be announce on July 20-22.
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