HDFC BANK PRICE NEAR 50% RETRACEMENT LEVEL

Jul 16, 2020

This looks like a pullback from 2/3rd retracement level, so i has got a very crucial support at 1050 and it is also getting support from a trend line, can take long positions for a week. Wait for the bounce from 1050 level for taking a long position. Shorters trade cautiously, this is a strong stock with strong uptrend. Well this looks like a pullback to me but if the price falls below 1050 level and also crosses the trend line, then this could be weak stock for some upcoming days. Place targets and stop losses near the support and resistance lines drawn.