Fundamentals/Basis:
HDFC Bank is an important scrip that need to be monitored on long term basis, if we invest or not.
This is due to the fact, as a leader in the banking industry and a heavy weight company in the Nifty and bank nifty constituencies, HDFC bank provides clues to the overall market direction (most of the times)
This analysis is for Long term and if time permits, will keep updating throughout the year.
Technicals:
HDFC bank fell from its highs since end of 24 until jan. And had a retracement until approximately 1770 and formed a retracement trend direction.
Current range : 1600 to 1800 with 1700s as pivots.(Not formula but based on charts)
Trade Ideas:
If the price moves above the retracement line and sustains, go for long in the stock. Once it breaks lookout for confirmation at this trendline and also at the Long term trendlines for any retests.
Alternatively, if the price falls below the Long term trend direction, wait for confirmation on the bullishness.
Disclaimer: All the views and analysis provided are my personal analysis. Not a SEBI registered analyst. Plan and trade as per your analysis
If you Like the Analysis and agree with , Hit the Boost button and share your views agreements/constructive feedback in the comments.
Would you like me provide any of your favorite stocks analysis, let me know in the comment.
HDFC Bank is an important scrip that need to be monitored on long term basis, if we invest or not.
This is due to the fact, as a leader in the banking industry and a heavy weight company in the Nifty and bank nifty constituencies, HDFC bank provides clues to the overall market direction (most of the times)
This analysis is for Long term and if time permits, will keep updating throughout the year.
Technicals:
HDFC bank fell from its highs since end of 24 until jan. And had a retracement until approximately 1770 and formed a retracement trend direction.
Current range : 1600 to 1800 with 1700s as pivots.(Not formula but based on charts)
Trade Ideas:
If the price moves above the retracement line and sustains, go for long in the stock. Once it breaks lookout for confirmation at this trendline and also at the Long term trendlines for any retests.
Alternatively, if the price falls below the Long term trend direction, wait for confirmation on the bullishness.
Disclaimer: All the views and analysis provided are my personal analysis. Not a SEBI registered analyst. Plan and trade as per your analysis
If you Like the Analysis and agree with , Hit the Boost button and share your views agreements/constructive feedback in the comments.
Would you like me provide any of your favorite stocks analysis, let me know in the comment.
Trade attivo
HDFC had broken the levels and is in bullish mode. Considering the Nifty and Gift Nifty as well, the trend is likely to continue.
Immediate resistance levels are 1760 and 1820-40 levels
Nota
Book part profits around 1800 levels. Trail remaining.
Break of 1810 can see upward for 1840-1880.
support 1740
Trade chiuso: obiettivo raggiunto
Targets reached at 1840 levels.Profit booked and close the Trade
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.