Possible Breakout in HDFCBank (Above 1521)

2021年5月31日

After the close of today's session (31/05/2021), Multiple bank scrips in NIFTY seems to be hovering around a defined resistance zone.
Heavyweight HDFCBank seems to be one of them.

Notes:
- The Scrip was in a continuous downtrend channel which confirmed breakout on 21st May 2021 (Took support on the channel walls and gave a strong move up)
- The scrip has defined 1513-1521 (0.5% Area) as a resistance Zone. Once on 29th April 2021 when it tried to break the channel only to result in a rejection candle and then again on 24th May 2021, as seen by the small-body candle. Even today, the scrip was unable to cross the upper end of the zone and consolidated just below the zone towards the end.
- On the daily chart, A Double Bottom (Or even a Cup and Handle - Kind) of pattern can be found which suggests possible bullish bias.
- The scrip has taken 100DMA as a support over the last few days.

Could be used for intraday and short term swings.

Please note - Not a SEBI Registered Advisor/Analyst. Only for Educational Purposes. Please Consult your financial advisor before you take any action.

2021年6月6日

交易开始

Still hugging the zone.. Hoping for a breakout

2021年6月8日

注释

Going against expectation by the looks of it.. Waiting for a stronger confirmation.

2021年6月13日

注释

Consolidating well below our levels..

2021年7月1日

注释

Respecting levels.