HDFCBANK has shown small rejections at its weekly support . 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.
But if something that is completely unknown to the world likesome internal scam unveils. In that case I cannot say, but rest assured HDFC has string financials and fundamentals too.
I think its a short term thing, and the entire banking will revive in a bit. Let us see. I hope you are not all invested in HDFC Bank and have a good investment portfolio.