HDFC Bank: Analysis
HDFC Bank has broken out from the consideration range which it has been stuck into since November 2020. Yesterday there was a huge breakout at the start of the second session wich pushed bank nifty to its high as well if this momentum continues (which my expectation for the upcoming few days) we can see bank nifty at an all-time high as well if not it can retest its upper levels.
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There were two important harmonic levels 1.272 and 0.886 in the weekly time frame which was playing a major role in resisting higher levels :
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Expecting another big move above the 1500.00 level which will make this stock a best buy. Not for the long term because of the pending retracement in bank nifty. SL will be somewhere in the green zone.
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Caution: Calculate your RR ratio and then trade. Don't Trade Blindly.
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There were two important harmonic levels 1.272 and 0.886 in the weekly time frame which was playing a major role in resisting higher levels :
.
Expecting another big move above the 1500.00 level which will make this stock a best buy. Not for the long term because of the pending retracement in bank nifty. SL will be somewhere in the green zone.
.
Caution: Calculate your RR ratio and then trade. Don't Trade Blindly.
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