HDFCBANK : Approaching Key Breakout ZoneOverview: HDFC Bank Ltd. is showing a series of breakout attempts, suggesting a build-up of buying pressure. The stock has repeatedly tested a resistance zone, indicating a potential for a breakout if this level is breached with strong momentum.
Key Levels and Zones:
Resistance Zone (Multiple Breakout Attempts):
The stock has faced resistance around the ₹1,750 - ₹1,760 level on multiple occasions, marking this area as a critical breakout point.
A sustained breakout above this level, particularly on a weekly basis, would signal bullish strength and could lead to a strong upward move.
First Resistance for Retest (₹1,881):
Once the breakout is confirmed, the stock may face initial resistance around ₹1,881, where some consolidation or a retest of the breakout could occur.
Second Resistance for Consolidation (₹1,992):
If the stock sustains above ₹1,881, the next significant resistance level is around ₹1,992. Consolidation at this level could provide additional momentum for further upside.
Target Zone (₹2,231):
Upon clearing the earlier resistance levels, the stock has potential to reach the target zone at ₹2,231, representing a new high and a possible long-term target for investors.
Technical Indicators:
The stock is trading near its 200-week moving average, suggesting it is above a strong long-term support level.
The formation of higher lows indicates an uptrend, adding to the bullish sentiment.
Hdfcbanklongtermanalysis
Buy HDFCBANK 1565 TGT 2200/2650 sl Below 1230Hdfcbank has given a meaning full correction on intraday basis and is taking the support on major levels, It has been in deep consolidation from last 2years and now looks like operators gave a false news for the fall and bought it in a block deal on lower levels which is generally the trick to buy on lows.
HDFCBANK--First Short then Long??HDFCBANK::
Bullish view From 1580 and 1540 range::
----->>
HDFCBANK currently trending downwards....
we have a bearish gap left @1680 zone....
that will again push the price downwards....look here for sell @1680 zone...
we have demand zones placed @1540 range will take the price again upto 1740 range...
look here for buy to continue in the short term long.
short term Bearish View from::
1640 zone::
HDFC BANK Trend AnalysisI have made some changes in this analysis.
Kindly disregard my previous analysis linked below.
Now price is at key support level of 1300.
If breaks it can easily fall to 1000-1100 levels where trendline support will add confluence.
Accumulate at 1000-1100 levels for the following targets:
Short term swing target @ 1475 (40% ROI with 4.25 R:R)
Medium term swing target @ 1725 (64% ROI with 6.75 R:R)
Long term positional target @ 2350 (123% ROI with 13 R:R)
Stop loss @ 950 (optional)
Do your own due diligence before taking any action.
Peace!!
HDFC BANK Analysis 04/03/2021as we can see there is a bearish divergence of Price with MACD and it got its confirmation as the price has fallen and tested the immediate Support Area, and MACD and signal lines has crossed in MACD indicator which is the sign of trend reversal and price correction.
the trend is range bounding in a ascending parallels channel and currently touching the top bond
we may have an other impulsive wave to the 1 TP and alternatively retrace down to the 2 TP.
HDFCBANK Long Term OutlookHDFC Bank is currently trading at support zone and the trend is turning to bearish.
From the 200 Weekly MA HDFCBANK made a pullback, from this level few days or weeks of range bound distribution phase can be seen, RSI is below 30 and price is below the Ichimoku Cloud and it is turning to bearish, Alligator is bearish.
If one or two weekly candle closes below the 200 Weekly MA we will see then the price will go to near 550-650 zone in long term.