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HDFCBANK

Keep an Eye on HDFCHDFC is now trading at an important level. the portion marked in green box can act as a demand zone where HDFC is reversed for several times which means it may act as a strong support area. Therefore, it is important to keep an eye on HDFC and check if it gets a bounce from here or breaks. if it breaks down the are we may see a massive fall in the indices as well a panic selling can be witnessed in HDFC. Note: this idea is only for educational purpose.
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by InvestyourAsset
HDFC BANK - A long tradeHDFC BANK has been consolidating for a long while near its resistance areas. This is showing that the sellers are losing their grip on the supply zone and buyers are willing to push the stock ahead and change the market structure. The breakout has not yet happened but the signs look positive hence keep it on your radar. Disclaimer - Please take positions as per your risk appetite and also do not put all your capital in one trade. I am not responsible for any loss or profit that comes along with the trade. Please do your due diligence as well. Just sharing my thoughts and setups as per my 4 years of experience. Will be updating when the trade triggers and giving the Stop loss and Target areas.
NSE:HDFCBANKLong
by Aadilsid0810
BANKNIFTY trade setupThe banknifty index is stuck in a range from 44150 to 43500 levels , any breakout or breakdown of these levels can give a directional move in the index , on the downside expect banknifty to touch 42800 levels if the range is broken downside ,higher probability trade will be on the upside if all time highs of index ie 44150 levels gets broken , one can enter on retest for targets of 44500 and 45k in short term , personally will try to avoid shorting this bull index
NSE:BANKNIFTYLong
by sniper1290
HDFC BANK - an observation on a weekly timeframeThe fall on Friday (5 May 2023) was a news driven event. Need to see the price action and how it shapes up during the week going forward. Might see price consolidation between 1625 and 1725. Breakout and close above 1725 would be create an upward momentum. Support around 1560 - 1500. Bullish over long term. However, always keep a strict stop loss between 5-8%. Note: Personal analysis. Not a buy/sell recommendation. Do consult your registered financial advisor.
NSE:HDFCBANKLong
by TheUnlearningOne
PostMortem on BankNifty Today & Analysis of 05 MAY 2023Finally some volatility to keep the bears alive. This entire week the technical analysis was saying keep buying. See how a fundamental change can alter the sentiment. "MSCI tweaks spook HDFC twins, merged entity may see $150-200 million outflows" The MSCI news hit just before the start of the day and NSE:HDFCBANK and HDFC were down 5% in pre-open. The biggest loser was NSE:CNXFINANCE index compared to NSE:BANKNIFTY & NSE:NIFTY during the preopen session. Even after such bad news the other banks did hold banknifty up till 12.55 after which the banks had a near free fall. The open was gap down, but it recovered very neatly till 10.20, there was volatility visible in CE options premium, but PE premiums were still under control. Obviously the near ATMs had huge spikes as the gapdown itself was an uncertainty in itself. The pattern formed after 10.20 was a perfect 2 legged down-fall. The 2nd leg had a depth of 1.6% ~ 695pts. Banknifty was holding its ground near the 43253 support at the start as well as from 11.05 to 12.55. In this period of 2 hours the options premiums started decaying.  Right after the 1pm move there was a broad-based selling on other banks as well. And what it did was to ensure banknifty's fall was matching the Finnifty's percentage drop. Its true that both of them fell exactly 2.34% today. However the HDFC which fell 5.58% is just present in Finnifty. Somehow to the naked eye I am not convinced how banknifty had an equivalent fall as finnifty. The only positive contributor to finnifty was SBILIFE which has a small weightage. Seems like IndusInd & Federal bank which has weightages of 5.4% and 1% would have made the difference. I am still not convinced :( --- 15mts TF is showing banknifty has broken 2 supports 43253, 43012 today and was stopped at 42576 support. This is the first time in many sessions that we had a decent retracement. Since its fundamental/news driven, the technical analysis wont really work here.  --- 1hr shows the top formation quite clearly. The nearest support of 42576 if broken will open up a free-fall gap of 952pts till the next decent support at 41624. If that happens we can start taking bearish trades. --- Nifty50 chart pattern is not bearish even after the blip today. The nearest support is at 17976 and the next support is 3% lower at 17429. Interestingly this 3% gap between 2 SR zone is similar to banknifty as well showing a vulnerability. If the indices can hold its ground very well we will not have a snowballing effect.
NSE:BANKNIFTY
by viswaram