HDFC BANK LTDLong
Inverted H&S on HDFC Bank. Right time to buy for 1590-1600 trg
HDFC has been under pressure for very long time. We see selling is drying up and to support, Spot has crossed 100 sma of 1hr chart with a successful retest at 1418.
We also see a inverted H & S pattern formed at the bottom. If this crosses 1450-60 and sustains, we should see it rally up to min 1590 - 1600. We need to keep a SL of 1395. (1418 is ideal SL, but giving 23 points buffer to rule out fake breakdown.
We also see a inverted H & S pattern formed at the bottom. If this crosses 1450-60 and sustains, we should see it rally up to min 1590 - 1600. We need to keep a SL of 1395. (1418 is ideal SL, but giving 23 points buffer to rule out fake breakdown.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.