HDFC bank has broken the daily and hourly resistance but the momentum is towards sideway mode. If it overcome the momentum then go for the below bullish trade...
Script Action Entry SL Tgt 1 Tgt 2
HDFC Bank Buy 1,315.13 1,288.43 1,341.83 1,368.53
After reaching the target comfortably, profit was booked. Now it has shown a nice rejection candle at the upper end of the channel.
If it opens/crosses < 2054, it'll be an opportunity to sell it for a swing trade.
Rejection candle is identified by the long wick on the upside. Bulls tried to push the price above the resistance but bears won ultimately.
Keep an eye on SUNPHARMA it is on the verge of its breakout from a triangular pattern. There is a concert resistance at 526.90 levels. SUNPHARMA has retested these levels multiple times now and there is a good possibility that it is going to break these levels this time.
Reason to Buy:
1) Multiple retesting or concrete resistance levels.
2) Trading over 200 EMA...