HDFCBANK : 18th June (long)
As per my last post, INR 1462 stood as major support level for HDFC bank in 17th June trading session.
For 18th June, major support level is INR 1454.70 and 1st resistance is INR 1471.75. Support and resistance are based on fibonacci drawn on ( low of 14th May and High of 1st June)
Moreover, on daily charts, HDFC bank made a Gravestone Doji on 17th June, indicating a high chance of reversal of downward trend.
Therefore, my expectation is that HDFC bank will trade higher in tomorrow's session and should be seen trading in INR 1471.75 - INR 1480 range.
For 18th June, major support level is INR 1454.70 and 1st resistance is INR 1471.75. Support and resistance are based on fibonacci drawn on ( low of 14th May and High of 1st June)
Moreover, on daily charts, HDFC bank made a Gravestone Doji on 17th June, indicating a high chance of reversal of downward trend.
Therefore, my expectation is that HDFC bank will trade higher in tomorrow's session and should be seen trading in INR 1471.75 - INR 1480 range.
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