#HDFCBANK BREAKDOWN 08/07/2024
How to trade HDFC Bank Stock after its Fall 05/07/2024
HDFC BANK the stock is holding above its 50-day moving average, the big traders or specialist remains positive on the other side showing resistance at 1700.
After such a sharp decline, HDFC BANK is likely to find support their is high possibility of a bounce back from the mentioned support levels.
On the higher side, Immediate resistance is at 1700 and the next crucial resistances are at 1740 and 1790-1800 levels.
The overall structure of the stock seems to be bullish, and buying on dips will be the ideal strategy in this counter. Coming to the levels 1600 will be a good bargain price where short-term traders can enter the stock. The immediate targets for the stock are around 1720 on the higher side
L E V E L S:-
Resistance-1700,1720,1740
Support-1600
HDFC BANK the stock is holding above its 50-day moving average, the big traders or specialist remains positive on the other side showing resistance at 1700.
After such a sharp decline, HDFC BANK is likely to find support their is high possibility of a bounce back from the mentioned support levels.
On the higher side, Immediate resistance is at 1700 and the next crucial resistances are at 1740 and 1790-1800 levels.
The overall structure of the stock seems to be bullish, and buying on dips will be the ideal strategy in this counter. Coming to the levels 1600 will be a good bargain price where short-term traders can enter the stock. The immediate targets for the stock are around 1720 on the higher side
L E V E L S:-
Resistance-1700,1720,1740
Support-1600
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