HDFC BANK NSE

DATE - 12th March 2024.

HDFC Bank has breakout today with good amount of candle size and volume too.

Applied Concepts

Chart P. - Inverted H&S

Positive Order Block from Daily Time Frame and Previous OB of Monthly TF as shown in chart.
Only OB is not a good option so here we have applied FVG (Fair Value Gap) also, Price Action has successfully reversed from FVG and gave confirmation for potential upside movement.

Targets
1st Target as per Chart P. is 1555 Rs.
and Further upside Target as per OB and FVG is 1700+.

Thank You!
Have a Good Day.

코멘트:

Taking Support on H&S Neckline today.

코멘트:

Monthly Closing in HDFC Bank is Showing Bullish Piercing Candle, it is considered as Strong bullish sign for HDFC Bank.
Next Strong support is 1422 Rs.

코멘트:

T1 Achieved!!
BTW,
Thanks for Boosting this idea.

코멘트:

1480 to 1470 Good Support Zone for HDFC Bank, Furthermore
BN is also showing Bullish Continues Divergence.

코멘트:

As I mentioned in previous comments,
1480 to 1470 were good supports and today HDFC BANK reversed from 1480 RS and

코멘트:

Expecting good movement in coming days, T2 is pending.

코멘트:

Gaupp at 1528 Rs right above Resistance line in Daily TF,
If it sustains above gap, it will be Strong bullish sign for HDFC BANK & Bank Nifty too.

코멘트:

Back on levels that previously worked as a support.
Let's see how it moves in next few days.

코멘트:

Seems like HDFC Touched Bottom today and reacting from breakout level support.