HDFC Bank- Why so confusing?
Strictly Based on Technicals-
1. Just trading below MA 50 and 20 on daily chart- Acting as a resistance
2. Recent Low support line in act and might be a support for HDFC bank to hold it above 1000.
3. Pre Covid high's and recent highs trend line acting as a resistance, holding it below 1150-1200
4. Volume Traded recently on HDFC Bank is very huge comparitive to pre covid times.
6. Trading in a parallel channel since the recent low and currently sitting at lower level.
5. 1021 acting as a support on fibs and 1089 as a resistance.
Since HDFC bank is India's leading bank it should be accumulated whenever market gives you an opportunity.
1. Just trading below MA 50 and 20 on daily chart- Acting as a resistance
2. Recent Low support line in act and might be a support for HDFC bank to hold it above 1000.
3. Pre Covid high's and recent highs trend line acting as a resistance, holding it below 1150-1200
4. Volume Traded recently on HDFC Bank is very huge comparitive to pre covid times.
6. Trading in a parallel channel since the recent low and currently sitting at lower level.
5. 1021 acting as a support on fibs and 1089 as a resistance.
Since HDFC bank is India's leading bank it should be accumulated whenever market gives you an opportunity.
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