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HDFC BANK LTDHDFC BANK LTDHDFC BANK LTD

HDFC BANK LTD

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HDFA trade ideas

HDFC Bank - Bullish Trend (Intraday - 19/4)Positive Side: 1. Formation of two bullish pattern - Cup & Handle Pattern, Flag Pattern. Indicating uptrend after the breakout (1432). Most probably, if we have a good early start and it can break 1449 and it will tend to reach the Target 1 (1460). So, ignore trading in this spot, if we have such situation. 2. Once the target 1 is achieved, it can form a V pattern. Which is again indicating a upward trend. Which is where the majority of profit booking is possible. Target 2 (1495). 3. If we still have a bullish run, it can move even further. But the volume profile, doesn't seems to be supporting it on Monday. 4. Moving Average 20 & 50 for the 1hr chart is about to collide, which tends to move the stock upward. 5. Can trade between 1450 and 1490, the region where we can see big candle in the volume profile. 6. HDFC Bank Q4 results: Net profit rises 18% to ₹8,186 cr 7. Bank Nifty is on the top edge side of a trendline 8. Perfectly matching with the Fibonacci Retraction. Negative Side 1. If the market falls just like it did for the last two monday, we can expect the downfall for hdfc bank as well. So recommended to keep the stoploss at 1415.
NSE:HDFCBANKLong
by VigneshRaja-UthayaKumar