HDFC Bank.. can this legend gain momentum???
Hello 👋
It's a High weightage Nifty 50 stock
* Stock is in strong hands as FII & DII holds major stake
* Currently stock is in tight range of 1620 - 1670 since few weeks
* Monthly/weekly TF classical double bottom pattern made..( any breakout above the previous high which is 1794 stock can gain good momentum..but for that it should be sustain above 1700 as there is supply zone )
* Looks like volumes are growing slowly as it's in accumulation fase
* Rsi inclined also broken previous swing.. another positive point
* Also there is a gap 1724 - 1685
If this one filled with strong Move .. again it's became a good momentum.
Overall HDFC Bank is trading in narrow range since longer period of time.. it's needed a strong comeback to gaining momentum...
It's my view plz DYOA. No buy or sell recommendation 🙏
Please boost my idea if you find it useful 😉
Thank you.
It's a High weightage Nifty 50 stock
* Stock is in strong hands as FII & DII holds major stake
* Currently stock is in tight range of 1620 - 1670 since few weeks
* Monthly/weekly TF classical double bottom pattern made..( any breakout above the previous high which is 1794 stock can gain good momentum..but for that it should be sustain above 1700 as there is supply zone )
* Looks like volumes are growing slowly as it's in accumulation fase
* Rsi inclined also broken previous swing.. another positive point
* Also there is a gap 1724 - 1685
If this one filled with strong Move .. again it's became a good momentum.
Overall HDFC Bank is trading in narrow range since longer period of time.. it's needed a strong comeback to gaining momentum...
It's my view plz DYOA. No buy or sell recommendation 🙏
Please boost my idea if you find it useful 😉
Thank you.
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