srikantsoni
Long

HDFCBANK - Island formation

NSE:HDFCBANK   HDFC BANK
Keeping the FII hype aside, I am expecting a 3rd Island formation. Stay long until there is a gap down.
If no gap down and price going downward I would see if there is close below 2080 with good volumes before exiting the long position. Close below 2053 (the high before gap-up ) should be SL.
Order cancelled: Did not initiated, opened gap up and trading down.

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