HDFC Bank Trade Setup on the Daily Chart

📊 HDFC Bank Trade Setup on the Daily Chart 📈

Here's an interesting long trade setup for HDFC Bank:

🔹 Entry : 1771
🔹 Take Profit : 1881
🔹 Stop Loss : 1742

This trade aligns with a confluence of technical factors:

1️⃣ Fibonacci Retracement🟠: Price is bouncing near the 0.5 retracement level, signaling potential support.
2️⃣ EMA 50 🟡: Acting as dynamic support, strengthening the probability of a rebound.
3️⃣ Historical Resistance-Turned-Support 🟢: Price is testing a key zone previously broken.

Risk-to-reward ratio looks favorable for a swing trade. Keep an eye on how price reacts to this critical level.

💬 Share your thoughts in the comments!