HDFC Bank is consolidating at 1hr time, probability of bullish breakout in much higher in this scenario
1- After a nice bull run consolidating at resistance area.
2- Market sentiments are bullish specially in banking and finance sector.
Although the stock is in downtrend on higher time frame but it is at the lower range of channel pattern it has been following since February and taking a good support at this area (156).
A swing trade can be taken from here (160) with a small stop loss of 154 and target of 190.
Please Note : This will be a pull back trade we are not expecting any trend reversal...