HDFC BANK LTDLong
HDFCBank LONG Ready for Break out ( Delivery Long)
Technically on the daily charts we see major support on the downside @ 1465 and 1414 levels, whereas major Trend Line resistance on the upside is capped around 1540 level.
If breaches minor resistance on the upside and closes above it, we may see fresh breakout and Stock can Lead towards higher levels around 1580/1621 and 1669 levels in Short Term.
Next major resistance @ trend line @ 1540/1550 level to watch.
Stock made Higher low every time it corrected Suggesting Bears getting weaker with every fall, daily closing above 1540mark momentum can be fast on upside.
Rsi above 50 to be watched for entry exit with proper risk management.
Above views For Educational Purpose Only.
Regards,
MD.
If breaches minor resistance on the upside and closes above it, we may see fresh breakout and Stock can Lead towards higher levels around 1580/1621 and 1669 levels in Short Term.
Next major resistance @ trend line @ 1540/1550 level to watch.
Stock made Higher low every time it corrected Suggesting Bears getting weaker with every fall, daily closing above 1540mark momentum can be fast on upside.
Rsi above 50 to be watched for entry exit with proper risk management.
Above views For Educational Purpose Only.
Regards,
MD.
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