All these two years HDFC bank share had tough time for investors. Now I did a monthly time frame analysis with the trend line and horizontal price engagement area meeting the trend line.
Hope this could be the final swing to come low for HDFC bank.
What are the support levels ?
1505, 1500, 1498, 1480
From any of these price point it will...
HDFC Bank is the largest private sector bank in India and is expected to report strong earnings tomorrow. The stock is currently trading at a premium to its fair value, but it is still a good stock to own for the long term.
Here are some of the reasons why HDFC Bank is a good stock to own for the long term:
Strong financials: HDFC Bank has strong financials with...
HDFCBANK 1780 Targets coming in next 5-8 days.
HDFC Hourly Chart shows Bullish pattern with 4% upside in next 5/8 days time frame.
Expecting Gap up opening on Wednesday 26th July & uptrend to continue.
LTP - 1696
SL - 1675
Targets - 1780
Timeframe - 5-8 Days.
HDFCBank Weekly Chart Suggest 20% upmove in next 6-8 Months.
CUP Pattern Breakout in progress on Weekly charts.
LTP - 1640
SL - 1540
Targets - 2000+
Timeframe - 6/8 Months
Every Dips can be used to accumulate the stock for Medium Term investment.
The stock is trading within a triangle pattern on monthly chart.
The high is tasted multiple time and chances are high to breakout near future.
Immediate resistance is placed at 1733.
I have mentioned all the important levels in the chart.
Like, Follow and Share.
HDFC Bank has been halting on the higher levels and is consolidating in a 3% range.
The stock has been forming a flag and pole pattern on weekly time frame.
The stock has closed near the resistance zone and is trading above the 20 DMA.
Banknifty has been forming new highs and HDFC has the high percentage in the index.
Trade can be carried in this stock for...
1. High chances of breakout after Multiple testing of level and 20 days consolidated in range.
2. Higher high and higher low last 5 days.
3. Possible long with 1st 1670 and 2nd 1720 with support at 1590.
Hdfc bank is moving within a parallel channel between 1590 and 1640 , Buy HDFCBANK above 1640 or Sell HDFCBANK below 1590 , both on daily closing basis . Same with stoploss , if buying then SL 1630 on daily closing basis , if selling then SL 1600 on daily closing basis . Currently wait for breakout or breakdown
HDFC Bank getting ready for Breakout
It has formed Narrow range of last 8 sessions and Inside bar candles in last 3 sessions
Making LH - LH structure
Consolidating above last 88 days support zone and sustaining after dynamic resistance (trendline) breakout and formed NR7
If Breakout above 1468 and sustained can go long with SL 1445 and momentum targets of...