HDFCBANK short positionHDFCBANK is in the uptrend.
The price found support on the upsloping trendline. We may get a weekly bullish engulfing candle which should imply more upside action.
We expect the price to reach the upsloping resistance which would be our entry for a short position. From there we would target the support of this rising channel.
The invalidation of this thesis would be if we get a weekly candle close above the upsloping resistance line.
RSI found support at 48 which also shows that the trend may have more legs therefore we expect the price to continue the uptrend
good luck
HDFCBANK trade ideas
HDFC BANK 15.6.23 - 5 pm
Disclaimer - I am not a trained or registered analyst. I do this only for my learning.
I am not responsible for anyone's losses or profits .
Analysis - On daily TF
1. Has closed below rising trendline, so looks like a breakdown.
2. Has closed below 200 EMA
3. Seems to break lower trendline also.
4. RSI also is heading towards oversold zone.
Lot of confluences towards downside.
Possible to reach lower swing at 1556 levels and if breaks further then 1530 levels are possible.
HDFC Bank Intraday Analysis: 19-Jun-23HDFC Bank imp zones mentioned on chart, all reversal and expected move mentioned with Arrow line, RED: Sell, Green: Buy
Sell< 1589 SL: 1601 Target : 1583,1570,1569
Buy>1606 SL: 1589 Target : 1612,1622,1645
Wait for Proper Rejection on lower time fames at levels :
@Support : Bullish
@Resistance : Bearish
Use SL trialing Method
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*All views for educational purpose only
TRENDLINE breakout On HDBhello everyone
it seems breakout has been complete but do your fundamental research before open your position
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HDFC BANK -ACCUMULATION ZONE - 1543 to 1500
-SL 1450
Market Cap
₹ 9,00,433 Cr.
Current Price
₹ 1,611
High / Low
₹ 1,734 / 1,272
Stock P/E
19.6
Book Value
₹ 446
Dividend Yield
1.18 %
ROCE
6.85 %
ROE
18.6 %
Face Value
₹ 1.00
Promoter holding
25.6 %
EPS last year
₹ 82.4
EPS latest quarter
₹ 22.6
Debt
₹ 17,84,970 Cr.
Pledged percentage
0.00 %
Net CF
₹ 41,330 Cr.
Price to Cash Flow
43.3
Free Cash Flow
₹ 17,390 Cr.
Debt to equity
7.22
OPM last year
61.7 %
OPM 5Year
61.6 %
Reserves
₹ 2,46,772 Cr.
Price to book value
3.60
Int Coverage
1.79
PEG Ratio
0.98
HDFCBANK--First Short then Long??HDFCBANK::
Bullish view From 1580 and 1540 range::
----->>
HDFCBANK currently trending downwards....
we have a bearish gap left @1680 zone....
that will again push the price downwards....look here for sell @1680 zone...
we have demand zones placed @1540 range will take the price again upto 1740 range...
look here for buy to continue in the short term long.
short term Bearish View from::
1640 zone::
HDFCBANK--Weak Support @1600 ??Observations::
After a strong fall price is not able to break the previous high,
and price is exactly now @ support,looks like its weak @1600 levels.
if price breaks 1600 levels,price fall is observed upto 1580 and 1540 levels.
Don't go for sell in HDFCBANK, it may reverse at any place in this levels.
look here for buyside until bearish gap filled on above 1640 and 1680 levels.
HDFCBANK--Consolidation??Observations::
This is also continuation update of HDFCBANK Analysis::
In my last update about drop base drop formation.
the demand zone is restrict the price to go down, witness a consolidation stage is observed in HDFCBANK,
we have to see if price drop continue to 1590 range, then we expect a rise from this zone,
if acts as support we will see again the previous drop (gap down) may be filled on upside.
Consolidation + fall = rise from demand
consolidation + rise= fall from Supply
keep track this.
The One reason for BANKNIFTY is in Consolidation is their more contributors SBIN and HDFCBANK are in consolidation.
If this information is helpful give me like. Thanks.
HDFCBANK 15M (19/5/2023)NSE:HDFCBANK
important levels and fibonacci levels are drawn in the chart.if it sustained near 1653 then more high possible .
Hello traders ,
All important levels are drawn in the chart.Work with risk reward ratio. not taking a trade is also a trade.
A trade cant change anything keep in your mind,if you think one trade can change your life then you are doing gambling in the market.take calculated risk.
DISCLAIMER- We are not a SEBI registered advisor.this is only for educational purpose. before taking trade take advice from your financial advisor.We will not be responsible for your profit and loss.
HDFCBANK--Drop-Base-Drop form??Observations:
if demand acts as Supply, fall is going to happen from here.
previous strong bullish from 1680 level, if acts as price turned to be bearish in HDFCBANK.
------->>After trending upwards, a strong breakout is given above 1700 level, with consolidation ,which is previous resistance got broken strongly.
------->>Now with opening a huge gap down, showing bearish pressure pushes the price towards downside, if this is a sign of reversal in HDFCBANK,
It's an opportunity to enter short again from these levels.
-------->>Keep on sell side as long as price is near 1680 levels. previous strong upside movement is happens here, which may acts as bearish turn in HDFCBANK. Keep look at this level it may turn bearish again.
if price again breaks 1650 levels be on sell side to 1630,1610 levels.
HDFCBANK--Bull Trap or Bear Trap??Observations:
------->>After trending upwards, a strong breakout is given above 1700 level, which is previous resistance got broken strongly.
------->>Now with opening a huge gap down, showing bearish pressure pushes the price towards downside, this is not a sign of reversal in HDFCBANK.
It's an opportunity to enter long again from these levels.
-------->>Keep on buy side as long as price is above 1600 levels.