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HDFC BANK LTD

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HDFCBANK trade ideas

HDFCBANK : 18th June (long)As per my last post, INR 1462 stood as major support level for HDFC bank in 17th June trading session. For 18th June, major support level is INR 1454.70 and 1st resistance is INR 1471.75. Support and resistance are based on fibonacci drawn on ( low of 14th May and High of 1st June) Moreover, on daily charts, HDFC bank made a Gravestone Doji on 17th June, indicating a high chance of reversal of downward trend. Therefore, my expectation is that HDFC bank will trade higher in tomorrow's session and should be seen trading in INR 1471.75 - INR 1480 range.
NSE:HDFCBANKLong
by nitinavinashlal
HDFCBANK 17th June 2021 (Long)As per analysis done for 16th June, HDFC bank prices today confirmed a range bound session. For 17th June, the hourly chart is showing a inverted head and shoulder pattern, which is indicating, that stock prices are expected to rise in the morning session. However, this analysis is subject to a favorable impact of US Fed Policy update in Indian market. Therefore recommendation for 17th june is: Breakout after it crosses INR 1496 Level. In case of unfavorable impact of US Fed policy update, it may test INR 1462 Level. Trading range: INR 1462 to INR 1496 Breakout : INR 1496 onwards.
NSE:HDFCBANK
by nitinavinashlal