ReeAishw

HDFC bank break out

Long
NSE:HDFCBANK   HDFC BANK
The banking sector is catching momentum lately. In 2 hour timeframe stock is in a range, Currently closed to proper valuation as shown by the valuation band in 1st chart. Also taking support from Demand zone .
In the30mins timeframe it has formed some price pattern and also Supported by 50 daily ema .

The Indicator Used:
PANEL 1:
1) Valuation band
KEYS: Red Faded Cloud: Over Valuation.
Grey Faded Cloud: Proper Valuation.
Green Faded Cloud: Under Valuation.

2) TE-REKAB - Proprietary Indicator
KEYS:
PB: Pullback
Blue Candle: Selling Divergence
Yellow Candle: Buying Divergence

Panel 2:
1) Daily Lines Plots Daily 20 (BLACK) & 50 EMA (GREY), BLUE (200 DAILY EMA ) Also On Lower Time Frame Charts.

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The analysis is my POV , hope you got bucks in your pocket to consult a financial advisor before investing :P :)