Closely watching HDFC BANK

Dec 6, 2022

HDFCBANK From this weekly chart of HDFC Bank we could see how the stock has been consolidating within the tight range of 1590 - 1650( yellow lines)

The stock is just 6% - 7% away from its all-time high.
So I will be watching this tight range ( expecting a breakout) considering support for bank nifty at the 42850 - 42700 level.
Apart from technical aspects, it is important to closely watch the monetary policy for tomorrow. The market expects a 25 - 35 points hike.


*Analysis is completely for educational purposes and not any kind of stock recommendation.

Dec 14, 2022

Note

Yesterday HDFC bank took support at the breakout level, today its is showing a slight upmove