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HDFC Bank Long

Long
NSE:HDFCBANK   HDFC BANK
0
Within the broader range of 1210 and 1160, the stock is currently showing strength at the 61.8% FR (1180). The RSI has come to its bounce area. One can expect a Range breakout of 1180 is sustained on an hourly time frame. The stock should initially target the higher end of the range (1210), and eventually breakout and test 61.8% FR of the fall from 1288 (1238).

An hourly close below 1180 negates this view, and the stock shall then see the lower end of the Range (1160)
Trade closed: target reached
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