HDFC Bank retesting the break out zone, looks bullish.

アップデート済

The stock looks bullish as per the price action. There was a consolidation and a break out after a gap up opening creating a gap.

It has retest the break out zone and the gap is filled.

HDFC Bank has taken a good support from 1480-90 zone as there is a confluence of 200 ema, retest and fib retracement levels.

Entry :- Above 1528

Possible Targets :- 1556, 1588

Swing/positional targets in the stock are even more. As the entry in the stock will be created the targets will be revised with trailing the SL/.

Wait for the price action on the bullish side for the entry.

ノート

The stock has given a good up move after consolidating around the 200 ema on the weekly charts and is forming a kind of a 'W' pattern on higher time frame.

It has cleared the resistance zone of 1560. There is an inside candle formation on the weekly charts.

If the stock starts trading above the round number figure of 1600, it can test the resistance zone around the ATH.

ノート

Target 1 done in the stock.

New trades can book the position and Others can use trailing stop loss or partial booking the profits.

Major resistance around ATH. Either this zone will be cleared or it will be respected.

Trade accordingly.

:)

ノート

HDFC Bank after a while is trading at its new ATH.

Those who are still holding the stock in cash must trail the SL while targeting 1868 and 2004 (target through FIB) in coming month.

:)