BharatJhunjhunwala

RSI being heavily oversold the stock may pullback

NSE:HDFCBANK   HDFC BANK
The stock 1101 during the day pulling back to close at 1134. Comparing close to close the stock corrected 1.43% compared to Bank Nifty overall. Now the stock is at a support. RSI being heavily oversold the stock may pullback from the current levels to 1160 – 1180 levels, however failing to cross them or creating bear candles at the levels may result into further selling. If selling beings again then the stock may find support at 1095, 1050 levels below which the target is deep towards 890 zones.
Bharat Jhunjhunwala
MFTA,CMT,CFTe,MSTA
http://www.prorsi.com

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