HDFC 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...
After the news of HDFC’s duo merger, the Market cheered and the price shot up. Now it’s back to the breakout point after the huge rise.
Is it a good level to buy?
Let's get into the Technical outlook first, then, we will explore the fundamental view of the merged entity.
Technical Outlook:
Bullish signals
• Inverse Head & Shoulder pattern formation
•...
