HDFC Bank is testing a long-term resistance zone on the monthly chart, around 1000–1030. This level has rejected the price multiple times in the past, so a clean breakout on the monthly candle carries weight.
The chart shows a rising trendline from 2020 acting as support, and price is currently squeezing between the trendline and the horizontal resistance. This type of compression usually leads to a decisive move.
A monthly close above 1070 will confirm the breakout and open space for higher levels. If the candle rejects again, it can slip back into the range.
Breakout Confirmation: Above 1070 monthly close
Upside Zones: 1200, then 1350
Invalidation / Stop Zone: Below the rising trendline (approx 920–940 zone)
Why It Matters: Breakouts on higher timeframes (like 1M) tend to lead to multi-month trends.
This is not a buy/sell call — simply highlighting a major structure shift developing on the long-term chart.
The chart shows a rising trendline from 2020 acting as support, and price is currently squeezing between the trendline and the horizontal resistance. This type of compression usually leads to a decisive move.
A monthly close above 1070 will confirm the breakout and open space for higher levels. If the candle rejects again, it can slip back into the range.
Breakout Confirmation: Above 1070 monthly close
Upside Zones: 1200, then 1350
Invalidation / Stop Zone: Below the rising trendline (approx 920–940 zone)
Why It Matters: Breakouts on higher timeframes (like 1M) tend to lead to multi-month trends.
This is not a buy/sell call — simply highlighting a major structure shift developing on the long-term chart.
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