Looking at the chart we can see
HDFCBANK just got a bounce from EMA200
MACD shows fairly a positive signal
Gets to break the recent high and retest the same
finally a bullish engulfing 1hr candle
which concludes that we can go long on HDFCBANK with
SL at 1472.40 which is the recent previous low just below the breakout zone
and TP at 2:1 ratio at...
IF the level of 22365 is resisting and holds we can expect a fall till 21600
this will be not valid if the level 22365 is broken
keep in mind the level 22365
