HDFCBank has made inverse head and shoulder pattern and broke out above the near term high. Its good to be on long side in HDFC positionally near CMP with a target of 2200/2220 and even higher if it breaks the all time high.
Disclaimer: Objective of this post is to educate and help all members earn profit from trading. I am not a SEBI registered analyst and strongly recommend people not to trade in NSE/BSE/MCX market basis above recommendations. All the stock picks are momentum picks chosen using technical indicators and for education purpose only. I am not responsible for profit and losses or SEBI audits arising out of the above calls. Stock market trading and investment is subject to market risks. Contact your financial advisor before taking trades or trade at your own risk.
Both targets 2200/2220 met. HDFCBank trading in open sky zone. There is no resistance whatsoever. Stock may try to test 2258/2308 in near to future term. Short squeeze and covering will take the stock even higher. Hedge it now since its already in good profit.
Trade closed: target reached:
Trade closed near 2235
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