HDFC BANK - short term @fter taking support on weekly time frame
HDFC BANK has taken support at 1363.5 and reversed. Looks like a strong reversal till 1750 is possible in coming days till it holds 1420 on daily basis.
There is strong support in squeeze momentum indicator, so breaking high is possible but initial move till high is safe and further action can be taken based on how chart reacts at those levels.
This analysis is based on price action and squeeze momentum indicator.
Please do your due analysis before entering a position.
This is not a trade call, just sharing my views on how I expect price to move in coming days.
There is strong support in squeeze momentum indicator, so breaking high is possible but initial move till high is safe and further action can be taken based on how chart reacts at those levels.
This analysis is based on price action and squeeze momentum indicator.
Please do your due analysis before entering a position.
This is not a trade call, just sharing my views on how I expect price to move in coming days.