🏦 HDFC BANK LTD – Falling Wedge Breakout with Bullish Structure | 15-Min Chart
📅 Date: April 25, 2025
📈 Timeframe: 15-Minute
🔍 Stock: HDFC Bank Ltd (NSE)
📌 Technical Overview:
HDFC Bank is showing signs of a potential bullish reversal on the 15-minute chart, forming a falling wedge pattern, which is typically known for reversal setups. Price action suggests a breakout from the wedge structure, with strong volume support.
🧩 Chart Pattern:
A clear Falling Wedge is identified using two converging trendlines (red).
Within the wedge, price completed a potential AB=CD harmonic structure, bottoming out near ₹1,891.
The breakout candle has closed above the upper trendline, signaling early strength.
🔍 Key Price Levels:
Support Zone: ₹1,891.80 (marked in red)
Immediate Resistance: ₹1,933.00 (green horizontal line)
CMP: ₹1,917.70
A sustained move above ₹1,933 may open room for further upside, potentially towards the ₹1,960–₹1,980 range as per the chart projection.
📊 Volume Analysis:
Noticeable pickup in green volume bars on the breakout candle.
This confirms growing interest and participation from the bulls.
🧠 Observational Bias:
As long as the price holds above ₹1,891 and sustains the breakout, the short-term trend appears to be tilting in favor of buyers. A retracement or retest of the wedge breakout zone may offer additional confirmation.
📅 Date: April 25, 2025
📈 Timeframe: 15-Minute
🔍 Stock: HDFC Bank Ltd (NSE)
📌 Technical Overview:
HDFC Bank is showing signs of a potential bullish reversal on the 15-minute chart, forming a falling wedge pattern, which is typically known for reversal setups. Price action suggests a breakout from the wedge structure, with strong volume support.
🧩 Chart Pattern:
A clear Falling Wedge is identified using two converging trendlines (red).
Within the wedge, price completed a potential AB=CD harmonic structure, bottoming out near ₹1,891.
The breakout candle has closed above the upper trendline, signaling early strength.
🔍 Key Price Levels:
Support Zone: ₹1,891.80 (marked in red)
Immediate Resistance: ₹1,933.00 (green horizontal line)
CMP: ₹1,917.70
A sustained move above ₹1,933 may open room for further upside, potentially towards the ₹1,960–₹1,980 range as per the chart projection.
📊 Volume Analysis:
Noticeable pickup in green volume bars on the breakout candle.
This confirms growing interest and participation from the bulls.
🧠 Observational Bias:
As long as the price holds above ₹1,891 and sustains the breakout, the short-term trend appears to be tilting in favor of buyers. A retracement or retest of the wedge breakout zone may offer additional confirmation.
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.
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.