Trading HDFC Bank’s Descending Triangle

The descending triangle pattern in HDFC Bank shows a strong horizontal support at 1710 and a descending resistance around 1740-1750.

Bearish Trade Setup

Entry: Sell if the price breaks below 1710 with high volume.
Profit Target: 1690 (20 points below support).
Stop Loss: 1740-1750 (above recent highs).

Bullish Trade Setup

Entry: Buy if the price breaks above 1740-1750 with strong volume.
Profit Target: 1770 (20 points above resistance).
Stop Loss: 1710 (below recent lows).

Wait for a confirmed breakout with volume to validate the trade direction. This descending triangle leans bearish, but a breakout above resistance could indicate a bullish reversal. This approach balances risk and reward by following the pattern's typical breakout behavior.

Disclaimer: This analysis is for educational purposes only and should not be considered financial or investment advice. I am not a registered financial advisor or broker. Trading stocks and other financial instruments involves risk, and you should consult with a certified financial professional before making any investment decisions. Always conduct your own research and consider your risk tolerance before engaging in any trades.