HDFC BANK LTDLong
HDFC bank - What next ?
Updated
Today, HDFC Bank is down by more than 4% due to some news of target reduction.
As HDFC Bank is a market mover, a big fall in HDFC bank can trigger a correction in broader Indian markets, especially banking sectors.
However, news based moves are mostly a trap for retail investors.
Weekly TF analysis of HDFC bank shows formation of ascending triangle pattern since 2020. The immediate support below the trendline for HDFC bank is 1520 which can be best buy levels.
Lets wait and watch what is unfolding in HDFC bank.
As HDFC Bank is a market mover, a big fall in HDFC bank can trigger a correction in broader Indian markets, especially banking sectors.
However, news based moves are mostly a trap for retail investors.
Weekly TF analysis of HDFC bank shows formation of ascending triangle pattern since 2020. The immediate support below the trendline for HDFC bank is 1520 which can be best buy levels.
Lets wait and watch what is unfolding in HDFC bank.
Note
Is it bouncing from best buy level?Note
1520 to 1650+Note
1700 done FROM 1520. 10%+ MOVE
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