Banking sector is now overbought. It is NIFTY that is now catching up with BN. God knows when that will happen.
For now, HDFC BANK looks like the first from the index that's showing weakness.
Clear rejection from the Highs.
LH formations noticed.
There's also a massive gap that needs to be filled which was created between 11th April close and 15th April open. I've shorted HDFC BANK.
TGT - 1840
SL - 1960
P.S. Not a recommendation. Pls do your own due diligence.
For now, HDFC BANK looks like the first from the index that's showing weakness.
Clear rejection from the Highs.
LH formations noticed.
There's also a massive gap that needs to be filled which was created between 11th April close and 15th April open. I've shorted HDFC BANK.
TGT - 1840
SL - 1960
P.S. Not a recommendation. Pls do your own due diligence.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.