HDFC BANK has managed to tests the same levels that it was before covid.
While the market might see some small correction across all indices, this correction must be used as a buying opportunity. Results for the quarter were fantastic. Long term. NSE:HDFCBANK
1.Daily chart heavy rejection.
2.this candle may be an retest
3. 200 being an psychological resistance
The price is still above 200 EMA I.e. its still in Bullish phase.
This is my point of view, lets hope for the best.
SBI formed an evening start after an uptrend and is likely to fall till the next strong resistance.
Initiate short calls.
Sell at 193.5. Target at next resistance, ie, 182. Stop loss at 50 DMA, ie, 197.
NOTE: Supreme court to have a hearing on the interest waiver case. NSE:SBIN
I STILL DONT KNOW WHAT PEOPLE DOING WITH THIS SIMPLE CHART ANALYSIS LITERALLY BANK SOME SAYING HDFC BANK GOING DOWN SOON BLAH BLAH BLAH
BUT THE TRUTH IS HDFC BANK IS HIGHLY BULLISH TILL NOW ITS HAVING A GREAT STRENTH AND THE TREND LINE IS TRUELY TILD AND TICK UNLESS AND UNTIL IT DID'NT REACH THE LEVELS OF RESISTANCE AREAS
KINDLY DO YOUR ANALYSIS WHEN...