FinancelY

HDFC BANK LTD

NSE:HDFCBANK   HDFC BANK
Everyone is talking about the breaching of 200 DMA. But please don't hate it, rather try to find a opportunity. Let's try to look at it from a different dimension.
- It is not the first time it would reach its 200 DMA.
- There is a trendline since 2018 where it has tested the trendline and 200 DMA at the same time, it breaks the 200 DMA at times but comes back more aggressively.
- Moreover currently HDFC BANK is forming a pattern in between descending triangle & Pennant , which is nothing but a bullish continuation pattern.

The chart explains it all, Please have a look.

Chart & Analysis - ADARSH DEY
Comment:
Comment: According to the above short term chart , one can close the trade at CMP 1509
Comment: 1519.75 HIGH. Missed the target by just 25 Paisa. I am thankful to HDFC BANK for respecting my short term study.
Comment: Updated Chart of the previous short term chart posted above , the reason why HDFC BANK took a resistance at 1560 Level.

Comments

what is the short term target of hdfc bank?
Reply
gopinathk meghamshah22
@meghamshah22, Thatz the million dollar Question forecasting it with proper timeline... :)
Reply
FinancelY gopinathk
@gopinathk, 1519.75 HIGH. Do you owe me million dollar ? :)
Reply
gopinathk FinancelY
@FinancelY, Already gained 1.8 Lakhs profit... still counting :D
Reply
gopinathk FinancelY
@FinancelY, Will definitely owe you the day its breakout and reach 1600 possible before August expiry??
Reply
FinancelY gopinathk
@gopinathk, That's really nice of yours!! I can't say concretely, but if it crosses 1520 and start taking it as support then only its possible.
+1 Reply
FinancelY meghamshah22
@meghamshah22,

Long only above 1450 for the target 1520. Chart has been plotted with timeline. Rest God is supreme.
Reply