HDFC close to second highest resistance can breakout above 1080
Upwards:
I think the traders need to wait in next trading session. The HDFC Bank is trading close to its second highest resistance. If it goes above 1075, its a strong buy call with clear breakout heading towards 1116. The next level to watch would be 1180 and 1256.
Entry price 1076, partial profits at 1116, and long positions can be broken at around 1180 and above.
Downwards:
In case the sellers take the control of market and HDFC moves downward, then the next support is 1035 followed by 948.
In downwards case, traders can short at around 1048 and book partial profits at 1035. Those holding the short positions can expect the next level to be 948.
I think the traders need to wait in next trading session. The HDFC Bank is trading close to its second highest resistance. If it goes above 1075, its a strong buy call with clear breakout heading towards 1116. The next level to watch would be 1180 and 1256.
Entry price 1076, partial profits at 1116, and long positions can be broken at around 1180 and above.
Downwards:
In case the sellers take the control of market and HDFC moves downward, then the next support is 1035 followed by 948.
In downwards case, traders can short at around 1048 and book partial profits at 1035. Those holding the short positions can expect the next level to be 948.