MOMENTUM TRADE IN HDFC BANK !!(DEC FUT)!!
VIEW
-HOLDING ONTO ITS RANGE
-21-EMA SUPPORT
-SUPPORT @1250
TRADE VIEW
DEC FUT
BUY@1275
STOP@1265
TARGET 1@1287
TARGET 2@1297
LOT:250
QTY:2
Two effective chart patterns have been observed and heading for completion and it might head check its high levels once again and might try a breakout . It is currently near it's support .
HDFCBANK has formed bearish engufling on daily charts.it has failed to cross 1285 1287 four times in the last one month
1287 is also the high fromed during the corporate tax cut rally.
rsi looks like negative divergence with risi dropping but price testing 1287 and failing
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank's segments include Treasury, Retail banking, Wholesale banking and Other banking business. The Treasury segment primarily consists of net interest earnings from the Bank's investment portfolio, money market borrowing and lending, gains or losses on investment operations and on account of trading in foreign exchange and derivative contracts. The Retail Banking segment serves retail customers through a branch network and other delivery channels, as well as through alternative delivery channels. The Bank provides its corporate and institutional clients a range of commercial and transactional banking products. The Other banking business segment includes income from para banking activities.
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HDFCBANK
![HDFCBANK: [Range Breakout] HDFCBANK](https://s3.tradingview.com/o/OHuwSISZ_mid.png "[Range Breakout] HDFCBANK")
![HDFCBANK: [Positional] HDFC Bank Ascending Triangle](https://s3.tradingview.com/e/eNGdfD1d_mid.png "[Positional] HDFC Bank Ascending Triangle")
