With the current market bullish bias of bank nifty and nifty, it would be no surprise that one of the leading stocks makes a breakout....
HDFC Bank has been below a resistance zone for 140+ days and is approaching the same resistance with a possible V shaped breakout.
It has already broken past the 50EMA and a break above the200EMA and resistance on above average volume is all the confluence needed
for a possible long trade.
Target:1512
Stop loss: Below 50EMA and dojo candle
Keep It Simple
HDFC Bank has been below a resistance zone for 140+ days and is approaching the same resistance with a possible V shaped breakout.
It has already broken past the 50EMA and a break above the200EMA and resistance on above average volume is all the confluence needed
for a possible long trade.
Target:1512
Stop loss: Below 50EMA and dojo candle
Keep It Simple
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