HDFC Bank Showing can go upto 2000 and above.

By MrSharelock
HDFC Bank has been in a consolidation phase between the range of 1300 and 1700 for a long time (3-4 year).
It has finally closed above the key resistance level of 1710 and trading around the level of 1740.
It is also forming reverse head and shoulders pattern and have given the breakout above its neck which is another sign for its bullish momentum.
It is a good time to add some quantity in your portfolio for good risk to reward ratio.
For conservative traders or investors, they can wait for a retest of the level of 1710 and buy some quantity with the stoploss given in the chart.
Comment
HDFC Bank touched 1766.35 and closed on 1759.80. If you have bought some quantity already then good luck, if not wait for the retest and look for the level of 1710 to buy more.
Chart PatternsHDFCHDFCBANKTrend Analysis
MrSharelock

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