HDFC Bank Trade Plan for 18 November

Like Banknifty , HDFC bank gave clear breakout on the upside on 17th Nov . Now bulls are in control and hdfc bank is ready to go higher for ATH. Below are the trade plans for 18th nov.

1. One should be holding HDFCBank for positionally long for target open with SL 1389.

2. 1374 should act as a good support now. Any moves towards 1374 is a long opportunity with SL of 1360 for target of 1389/1405/new ATH . This can be positional trade as well.

2. 1374 is now composite profile POC .

3. Go short only if 1353 breaks with SL of 1360 for 1342/1328/1309.

As HDFC bank is near All time high, i would never suggest you to take short trade. However these levels can be used for finding support in BankNifty as HDFCbank is major constituent in BankNifty .

If you guys like the idea, please give a Thumbs up to motivate me. Also Please share your thoughts in comments as well.

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