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HDFC Bank: Confluence of multiple bullish indication

Long
HDFC BANK (NSE:HDFCBANK)  
pradipandsuvra  
NSE:HDFCBANK   HDFC BANK
Volume Moving Averages Candlestick Analysis indianstockmarket stocktobuy stocktowatch
3
0
volumestudies movingaverage candlestick indianstockmarket stocktobuy stocktowatch
Multiple factors playing in HDFC Bank counter:

  • A rectangular consolidation is ready to be breached by the very strong Bullish Engulfing candle formation.
  • The MAs are showing bullish trend with the distance among the MAs are expanding. Good momentum indication.
  • High positive volume, above volume average .. breaking past the last 3 negative volume bars.

Trade: Buy above 1531, SL: 1515, T: 1541/1545



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