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HDFCBANK

#HDFCBANK BREAKDOWN 08/07/2024How to trade HDFC Bank Stock after its Fall 05/07/2024 HDFC BANK the stock is holding above its 50-day moving average, the big traders or specialist remains positive on the other side showing resistance at 1700. After such a sharp decline, HDFC BANK is likely to find support their is high possibility of a bounce back from the mentioned support levels. On the higher side, Immediate resistance is at 1700 and the next crucial resistances are at 1740 and 1790-1800 levels. The overall structure of the stock seems to be bullish, and buying on dips will be the ideal strategy in this counter. Coming to the levels 1600 will be a good bargain price where short-term traders can enter the stock. The immediate targets for the stock are around 1720 on the higher side L E V E L S:- Resistance-1700,1720,1740 Support-1600
NSE:HDFCBANK
by TheGoldenRatio-6
HDFC Bank Tanks, Drags Bank Nifty & Nifty Ends at a New ATHNifty 24324/+0.09%/5-7-24 The Open Price was -89 (83) points compared to the closing price of the previous session, giving a negative start to the day. Nifty made a low at 24169 )24281) which is a downward shift to the lower base and is not a positive sign . The Close Price was 111 (-68) as compared to the open price which is a positive sign. The Close - High difference was 39 (99) points which is also a positive sign - Nifty jumped up sharply in the last half an hour. Nifty’s range for the day was 194 (120) points. Nifty made a lower high, a lower low, and a higher close. The price action is bullish. Bank Nifty 52660/-0.83%/5-7-24 The Open Price was 392 (268) points compared to the cloning price of the previous session giving a positive start to the day. Bank Nifty made a low at 52290 (52816) which is a significant downward shift to the lower base and a negative sign. The Close Price was 100 (-254) points from the open price which is a positive sign. The Close - High difference was 158 (254) points and this mainly due to the fact that the high was hit at the open itself and there was late recovery in the index. Bank Nifty’s range for the day was 528 (542) points. Bank Nifty made a lower high, a lower low, and a lower close. The price action is tentatively bullish. Insights for 5-7-24 India Vix ended at 12.70/-1.24%. Nifty Lifters 38 Reliance, SBI, and LT. Nifty Draggers 52 HDFC Bank, Titan, and M&M. Bank Nifty Lifters 324 SBI, Kotak Bank, and Axis Bank. Bank Nifty Draggers 832 HDFC Bank In yesterday’s post I had mentioned that holding on to 52800 on a closing basis is very crucial for Bank Nifty. And the session’s high was 52817. Bank Nifty was under extreme pressure as HDFC Bank tanked almost 5% and contributed over 800 points fall in the index. Bank Nifty was able to recover in the last half an hour but it was not enough to take it above 52800. On the other hand, Nifty made a sharp recovery in the last half an hour of price action and ended at an All Time High close. This was possible mainly on account of short-covering in Infosys and HDFC Bank. The indices were volatile, but the India Vix is not reflecting the same and it ended with a decline. FIIs bought 1241 Crs DIIs Sold 1651 Crs Net -410 Crs What May Happen Next Week The next week may start seeing Q1 results getting released so the indices are likely to swing in line with what the traders/investors interpret of the numbers. For Bank Nifty, 52800 is a key resistance level and unless it opens gap up, and HDFC Bank does not fall further, the index may stage a recovery towards 53000. Nifty has shown resilience around 24200 and it appears that there are a good number of buyers around that level. So as long as it trades above 24200-250, the up move is more likely to continue.
NSE:DAVANGERE
by AVENUESOFINVESTMENT
HDFC Bank retesting the break out zone, looks bullish. The stock looks bullish as per the price action. There was a consolidation and a break out after a gap up opening creating a gap. It has retest the break out zone and the gap is filled. HDFC Bank has taken a good support from 1480-90 zone as there is a confluence of 200 ema, retest and fib retracement levels. Entry :- Above 1528 Possible Targets :- 1556, 1588 Swing/positional targets in the stock are even more. As the entry in the stock will be created the targets will be revised with trailing the SL/. Wait for the price action on the bullish side for the entry.
NSE:HDFCBANK
by Mambotrade
HDFC Bank - Bullish Flag chart patternBullish flag chart pattern has formed in HDFC Bank and also we have seen the breakout yesterday. During the flag formation, we have observe the volume is going down, indicating that the bullish trend will continue. Breakout of bullish with volume indicate a good sign and also RSI is above 60 so the momentum is also available. Levels are mentioned on chart, For target use measurement rule. Trail your SL is the key of saving capital along with profit is the good gesture of traders.
NSE:HDFCBANKLong
by Arvind_Share_Academy
1
Is HDFC Bank aiming to hit 2200+ in the coming months?Reason for going long on HDFC: Ichimoku: HDFC stock has been sideways for years but is slowly turning bullish after hitting strong Ichimoku cloud support at 1350. It is now crossing the Tenkan-sen (TS) and Kijun-sen (KS) on the monthly chart. Fibonacci + Fib Channel: When we draw the Fibonacci channel and Fibonacci extension of swings, it looks like HDFC is set to hit 2200 in the coming months. Buy on Dip: The current market price (CMP) is 1604. Any good dip near 1450-1520 presents a great buying opportunity for the long term. Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
NSE:HDFCBANKLong
by WaveMoku
1
HDFC BANK - Consolidation phase, is it calm before the storm?Overview & Observation: 1. Solid consolidation happening since 2020. 2. Better to just watch it for now 3. Prices have started moving slowly from the demand zone. 4. PA structure is currently bullish forming HH-HL. 5. Overall strength and momentum are lacking. D TF: - Stay tuned for further insights, updates and trade safely! - If you liked the analysis, don't forget to leave a comment and boost the post. Happy trading! Disclaimer: This is NOT a buy/sell recommendation. This post is meant for learning purposes only. Please, do your due diligence before investing. Thanks & Regards, Anubrata Ray
NSE:HDFCBANK
by SuperNova396
State Bank of India can show momentum outside the narrow Range Stocks to Keep in Radar for Next Week ⏩ SBIN ⏩ NMDC ⏩ BHEL ⏩ DLF SBIN is consolidating in narrow range from past many sessions If decisively sustains outside the Box range, directional movement could be possible However in case of Bearish pattern at upper end of range it may come back to prev week's range Important downside support is around 800 zone whereas upside hurdle is aroud 845/850 level *Election Results can create Volatility in the Maket Keep Tracking Charts *For Educational Purpose Learn & Practice Price Action setups
NSE:SBIN
by Himanu_HATradeTalk1
Bank Nifty showed Recovery today & closed with gains Bank Nifty showed opposite direction movement as compared to NIfty index today The Index bounced sharply from 48300 level after market opening & remained in positive zone. A Positive candle is formed on daily chart The imp upside hurdle is placed around 49100 level whereas downside support is around 47300/200 zone Track for price to form Price Action Patterns at Imp Levels, However market may show volatility during the last phase of elections Keep Tracking Charts *For Educational Purpose Learn & Practice Price Action setups
NSE:BANKNIFTY
by Himanu_HATradeTalk1