HDFC Bank forming flag and pole pattern.

HDFC Bank has been halting on the higher levels and is consolidating in a 3% range.

The stock has been forming a flag and pole pattern on weekly time frame.

The stock has closed near the resistance zone and is trading above the 20 DMA.

Banknifty has been forming new highs and HDFC has the high percentage in the index.

Trade can be carried in this stock for either side.

Bullish Target :- 1710
Bearish Target :- 1540

Stop loss should be less than 5-7 points.

Wait for the price to crosses and close outside the consolidation zone i.e. 1592-1638.

Swing, intraday and positional trade can be carried in this stock.


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