HDFC BANK is getting ready to take a Long Drive !

''Candles might help light the way.''
:- Steve Nison
1. HDFC BANK was moving beautifully in an upward parallel channel.
2. At the level of 1640-1650 price, Stock faced resistance thrice, then the price started moving in the downward parallel channel in the tight price range.
3. Stock then broke both parallel channels then fall to the price level of 1352.
4. Stock price then halt and took the support at the strong support level.
5. Stock price took the support of 200 DEMA.
6. Stock Price formed Bullish Engulfing Pattern, which suggests that now Bears has now exhausted, and Bulls has taken control.
7. Volume states that the greater the volume, the greater the force behind the. last 10 days volume is increasing, and the delivery percentage is average <50%, which suggests that investors are taking an interest.

Thank you.
Happy Trading !!!


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