HDFCBANK Analysis
Updated
On 15 min time frame of hdfcbank chart, since the last 3 days its been trading in a channel, or rather I would say consolidating after giving a strong breakout on 2nd feb. So if hdfcbank breaks the channel in the upward direction with a strong bullish candle, then go long for targets of 1600 and 1700. IF it breaks in the channel in the downward direction with a strong bearish candle, go short. The next strong support for hdfcbank is 1500.Since banknifty has given a really good rally, there are chances of pullback in bank nifty. So hdfcbank might create a little pressure here on bank nifty.
Note
but on the 15min TF, there is a hidden bullish diversion on the RSI, so chances are that it might go up.
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