Looking at the chart we can see
  • HDFCBANK just got a bounce from EMA200
  • MACD shows fairly a positive signal
  • Gets to break the recent high and retest the same
  • finally a bullish engulfing 1hr candle
which concludes that we can go long on HDFCBANK with
SL at 1472.40 which is the recent previous low just below the breakout zone
and TP at 2:1 ratio at 1565.60 post which we can consider trailing if probably good signals shows up by then.

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