HDFC BANK - an observation on a weekly timeframe

The fall on Friday (5 May 2023) was a news driven event. Need to see the price action and how it shapes up during the week going forward.

Might see price consolidation between 1625 and 1725. Breakout and close above 1725 would be create an upward momentum.

Support around 1560 - 1500.

Bullish over long term. However, always keep a strict stop loss between 5-8%.

Note: Personal analysis. Not a buy/sell recommendation. Do consult your registered financial advisor.