HDFC is in range bound and touch the top of short term trend channel.
Incase the price break out the channel then this analysis is void. Need to keep Stop loss accordingly
Target 1 : 2220
Target 2 : 2191
Target Date : 26th Jul, 2019 (Chart is price vs time, so generally i predict time as well.
Personally, I square off my trade if the target date is crossed.)
the stock had seen a good fall from past couple of days and hads successfully filled the gap , while other stock like icici sbin kotak may witness a fall , this along with hdfc bank and rbl bank can give a good upside retracement.
HDFC Bank has cut below a rising Trendline showing weakness along with overall market. Upcoming support area between 2400 & 2410 is very crucial. Any level to which the price could react as support should be the mentioned range around 2400. Below that level, the stock could well drag down to 2320-2340 region.
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It has successfully break it's resistance and rallied till 460 levels and now consolidating in the range and forming Pole and Flag like pattern. Keep it in the watchlist for Flag breakout. Trend successfully reversed.