aryanamar

HDFC BANK PRICE NEAR 50% RETRACEMENT LEVEL

NSE:HDFCBANK   HDFC BANK
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.

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