HDFC Bank: Approaching Long term top

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HDFCBANK

The impulse that started in early February is nearing completion.


We are already seeing signs of RSI divergence on daily charts.


More importantly, it is also completing 5 wave cycle, as seen on this weekly chart.

Most likely scenario is that we will see a final spike to 1260-80 zone followed by an extended downturn.

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Exit longs in HDFC Bank

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