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HDFCBANK 1700 CE 25th July 2024

HDFCBANK 1700 CE 25th July 2024

1. Spot Analysis:
- HDFCBANK is currently near its one-year high and is trading with good volume.
- The latest tick shows a price rise supported by strong volume.
- The MACD (Moving Average Convergence Divergence) is trending up nicely, both in relation to the signal line and the zero line.
- A new high has been created, indicating the possibility of a breakout.
- The weekly candlestick pattern is Three White Soldiers, formed at a pretty high level, suggesting continued momentum.

2. Option Chain Data:
- The HDFCBANK 1700 CE has a strike price of ₹1700.
- The call option price is ₹53.7.
- The open interest (OI) is 4,012,800 contracts.
- The implied volatility (IV) is 21.87%.
- The spot price is ₹1711.35.
- The delta is 0.58, gamma is 0.76, rho is -1.01, theta is 1.91, and vega is -3.54.
- There is a long build-up in this call option.

3. Conclusion:
Based on the technical analysis and option chain data:
- The bullish momentum, strong volume, and positive MACD suggest a favorable outlook for HDFCBANK.
- The Three White Soldiers pattern adds to the bullish sentiment.
- Considering the long build-up in the 1700 CE, one can consider going long on this option.

Remember to perform your own due diligence and consider risk factors. 🚀
Chart PatternsHDFCBANKhdfcbankanalysishdfcbanklongTechnical Indicators

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