HDFC Bank had an initiating move today and even it was one of the mover in Nifty .
As mentioned in the chart, any move breaking the rejection zone can be an initiation trade. But keep a close look on some of the important parameters like News and Events.
As per the recent market conditions, HDFC Bank is a value buy for the money at 1010 to 1020.
FYI.. is one way to identify the true interest in the trading zone.
Disclaimer: As a strong believer in efficient market hypothesis, this analysis holds good only in the case of No event/news in to the market. This is my personal view and take your decisions only by your analysis.