HDFC share analysisSIMPLE price action HDFC is breaking its channel and moving down side
SHORT TERM TARGET 1400
HDB trade ideas
HDFC Bank Daily chart analysis || Long term BuyHDFC and Reliance are charting distinct paths compared to the broader Indian market, exerting a direct influence on the Nifty and Sensex indices. The recent drop of almost 10% from their all-time highs, coupled with the breach of key support levels, raises significant concerns for these indices.
The absence of immediate support levels suggests that the upcoming month could witness heightened volatility and increased difficulty for stocks in identifying robust support zones for a rebound. For those considering long-term investment, the present moment presents an opportune time to buy, as the downside risk is limited to less than 5%
HDFC Bank - Wait till 29th September
HDFC Bank is still bearish. As per my previous coverage, will have to wait :
1. Levels to be formed on 29th September 2023. (Not likely to go below 1510).
2. Whatever low is made on 29th September 2023 has to be watched.
3. On 2nd October we have a holiday.
From 4th it is likely to be bullish. Don't be in hurry at all.
4. Meanwhile candles to be watched. (These are the candles likely to reverse the trend existing then).
(a) 10/1/23 11:07 AM
(b) 10/4/23 9:59 AM
Please adhere to the time and price levels mentioned here and trade in consonance with other indicators.
Disclaimer: I am not a SEBI Registered Analyst. Please consult your financial advisor before making any decision.
Breakout expected.Its 4 th wave pull back over which was a complex correction.
It is likely to take out 3 rd wave high which is at 1708
and move higher.
Due to tech weightage adjustment in FTSE. expected inflows of $650 million in to hdfc bank.
The chart is in weekly time frame.
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HDFCBank Swing Opportunity Hi All - good opportunity to go long on HDFC Bank for short term trade.
Key Highlights:
1. Go long as it bounces off the support
2. Good risk to reward
HDFC buy swing trade HDFC stock current price 1531 .
Best lowest price in 2023
Good support daily an weekly chart.
Who want invest for swing trade
Buy 1531.
First Target 1644
Second Target 1740+.
Stoploss 1500. (31rs)
HDFC bank fake or real breakdown HDFC Bank has given triangle pattern breakdown.
Volume has not given the confirmation, current week volume is less than previous week.
Expecting breakdown retest and their after validation of the breakdown.
Bank Nifty has retraced its 50% retracement level after up move in last couple of weeks.
HDFC Bank - Do you sell? Hold? Average? Targets for long term?HDFC Bank
CMP 1529 - this would act as a major support followed by the Green lines as shown
are the support levels.
HDFC Bank would touch and bounce of any of the Support levels.
1600 would once again act as a resistance level on the way up.
Targets for long term would be 1730, 1760 & 1800
If holding good levels to add would be the support levels that are given.
HDFC Bank - Recovery Possible after two days from here
You can see that two triangles have been drawn consecutively and adjoining them is a sky blue coloured trend line.
1. The low of 22nd September once formed will not be broken. When I say low of 22nd September it doesn't mean low already formed on the last day, A day has 24 hrs and we are open for trade only for 6hrs 15 mins in a day. More over, below the last daily candle formed there is a gap, which will serve as a solid support. So, whatever low is formed in the next three days, i.e. Tuesday will give firm base. There will be recovery from here till 29th September 2023; so be careful on 29th September. On 1st October 2023. the price is supposed to touch this line for upwards swing and after making base on 2nd and 3rd onwards, from 4th there is likely to be recovery invoke. In between there could be some holidays, please ignore them.
I am not a SEBI Registered Analyst, this is just for educational purpose. Before, making any decision, please consult your financial advisor.
Log supportHDFC bank is standing at Support line onnLog chart. If prices takes bounce forn 1510-1520 zone and gives close above 1565 then it can be onborded for upmove.
HDFC Bank class A divergence.HDFC Bank class A divergence seen on chart which is sign of reversal. It may reverse from here for target 1800,2100.
Is this right time to take a position in third most valued stockThe third most valued stock in Indian market HDFC Bank Ltd, LTP ₹1529 as on the date 22/09/2023.
The reason behind dragged the stock down trend because of institution & analysts forecasting decline in estimates revenue for FY24&FY25 due to a fall in the Marge’s bank net worth and accounting changes, increasing NPLs for the merged entity (HDFC AMC), a fall in net interest margin and weakness in return on asset(RoA).
As per technical parameters currently stock is trading in very important zone’
As of now trend is Neutral and it’s price hold above a very strong support zone,
So a 7.5-9% moves possible only when it enter in trend as well as break important levels.
As per my technical understanding if price hold above 1516.56 level on closing basic then only long positions can be carry. Other wise if the stock break 1500 level then down trend upto 1400/1350 can be possible. And one more thing remember that price also going to touch the 200 EMA in this 1400-1350 zone if it take a hold above 200 EMA then also it’s good price for go long.
And upside move only possible if price hold above 1560 levels then upto 1700 moves possible.
It’s not a recommendation for any buy/sale. But as of now a small swing trade possible buy above 1516.65 and took a SL below 1514.17 only for risk takers.
Thank you everyone
Good luck traders
HDFCBANK: 3 Year Triangle BreakdownHDFCBANK broke down of its 3 year long Ascending triangle with a big red candle and high volumes this week. Can head down if the down momentum continues. Or it could bounce back next week and come back into the triangle to break upwards.
A Difficult Read on HDFCBANKHigh Ce Oi. But At A Gap Support. Difficult To Go Short. May Be If The Gap Breaks Then Plan A Short.
Counter Trend Trade Is To Go Long Upon Confirmation Only.
HDFC Bank🔹 Technicals:
▸ Price got rejected from the previous resistance zone.
▸ It has closed below 200 EMA, which is long term moving average.
▸ A closing below 200 EMA indicates weakness and that the sellers are in control.
▸ If it manages to bounce from here, then we can see 1600, 1700 in the mid-term.
▸ If the demand zone gets violated, then the buyers will be in trouble. We can expect 1400, 1300 in that case.
Disclaimer: I am NOT a SEBI Registered Analyst and the information provided here is NOT investment advice. This post is intended solely for educational purposes.
HDFC Bank LtdHope all are good. Important points marked for HDFC Bank. Currently HDFC is downward trend and seeing a gap in the chart. Strong stock good time to acquire more stocks, it will go down to marked points and will reverse.
If you are planning to hold for long collect in all dips.
Current issues are not a problem for HDFC Bank.
Disclaimer: Only for education purposes do own research before investing in equity market.
HDFC BANKIt has Multiple bottoms, if it breaks we can see more down side fall , if it jumps back again it is good. above 1570 is good for long
HDFC Bank: Doji Formation on daily time frameHDFC Bank is trading near crucial support now. 1525-1535 will be important on closing basis. If Close & sustain below the mentioned levels, further selling can be seen.
HDFC BANK ANLYSISSince almost a year HDFC BANK is in a broad range between 1530 - 1760
Again price has come down to bottom of the range.
HDFCBANK Expecting a correction from here!!I think the impulse wave is now complete and we may see a correction from here which can go deeper as well depending upon the sentiment of the global markets in coming days.
NFA!!
HDFCBANK - Near Important Support ZoneNSE:HDFCBANK offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side.
Positives:
Company with high TTM EPS Growth
Good quarterly growth in the recent results
Effectively using Shareholders fund - Return on equity (ROE) improving since last 2 year
Efficient in managing Assets to generate Profits - ROA improving since last 2 year
Increasing Revenue every Quarter for the past 4 Quarters
Company able to generate Net Cash - Improving Net Cash Flow for last 2 years
Annual Net Profits improving for last 2 years
Book Value per share Improving for last 2 years
Company with Zero Promoter Pledge
FII / FPI or Institutions increasing their shareholding
Negatives:
MFs decreased their shareholding last quarter
Decline in Net Profit with falling Profit Margin (QoQ)
Declining profits every quarter for the past 2 quarters
Weak Momentum: Price below Short, Medium and Long Term Averages
NOT A RECOMMENDATION. JUST FOR EDUCATION. Thanks.
HDFC Bank Simple Price Action AnalysisNSE:HDFCBANK has created a Bearish Diamond Pattern in the Weekly Chart.
Ideally, the Price should go down once the nearest Support Breaks and retracement happens.
But trading in futures and Options is inherently Risky and one should avoid it.
This analysis is for educational purposes only.
Disclaimer: Stock trading is inherently risky and you agree to assume complete and full responsibility for the outcomes of all trading decisions that you make, including but not limited to loss of capital. None of the stock trading calls made by Prosenjit should be construed as an offer to buy or sell securities, nor advice to do so. All comments and posts made by Prosenjit are for information purposes only and under no circumstances should be used for actual trading.
