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.
Hdfcbanklongtermanalysis
HDFC Bank Swing trade !HDFC Bank has made a double bottom on weekly time-frame, and has also given a break-out. The stock is taking support from 200EMA of daily time-frame, you can go long once you see a good bullish candle on 1D time-frame. It could be a long-term swing trade (Positional Trade). Suggested targets 1480Rs, 1511Rs. You can also make this as an investment opportunity because it is almost 15%-16% down from its 52Week High time high.
:warning: Place Stop-loss logically // Trade with your own risk // Trail your stop-loss once it reaches 50% of the target/
HDFC BANK1)We can also bet on (29 JUL 2021 1500CE) for 20-50% returns in next week
-------------------------POSITIVES--------------------------
1) More than 2 week consolidation
2) Volumes are not dry
3) Todays action in such a patchy market shows strength, holding bank nifty single handedly
4) If HDFC BANK will go up then Bank Nifty will also go up
5) Volumes are greater than yesterday
6) It's HDFC Bank
-------------------------Negatives------------------------------
1) Call writers on upper band of Bank nifty
--------------------------THANT'S ALL-------------------------
📊 #Hdfcbank long🎯NSE:HDFCBANK
===========================================================
HDFC Bank CMP :- 1481
Current Support :- 1464
Target :- 1650
one can long till target as long as it stay above current support.
******whatever charts or levels sharing here are just for educational purpose only not a recommendation. please do your own analysis before taking any trade on them. we are not SEBI registered.
HDFC Bank | Bullish ContinuationAs we observed in our previous analysis (attached below) of the stock, it bounced off from the support zone. The stock has now broken out of a range making it a bullish continuation pattern i.e. Bullish Flag. Hence we can expect HDFC Bank to hit 2640 in coming days as suggested by the pattern.
(Disclaimer: Our charts and contents are just for the purpose of analysis, learning and general discussion. Do not consider these as trading tips or investment ideas. Trading in Stocks, Futures and Options carry risk and is not suitable for every investor. Hence it is important to do your own analysis before making any investment or trading decisions based on you personal circumstances and it is always better to take advice from professionals)