shikhagupta2589

HDFCBANK may retest 975 if goes below 1025

NSE:HDFCBANK   HDFC BANK
Hi Traders!

HDFCBANK has shown small rejections at its weekly support trend line . If it moves upwards it can be traded for 1069, as 1069-1079 is area of strong monthly resistance.
If HDFCBANK falls below 1025 comfortably, it will retest 975.
So keep close watch and follow the strategy as follows:-

In case of upward move:
Intraday traders/Short term traders can take an entry at current market price for a target of 1069.
Long term traders should wait for Stock to comfortably close above 1079 or if its retest 975. This is not a good entry point for long term positions.

In case of downward move:
Short term/intraday traders can short the stock for target of 975 at 1025.

Intraday traders, keep following for intraday trade opportunity calls and ideas. Will publish them as and when I see a good opportunity in stock movement.

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