HDFC Bank in the Month of Jan had a Major Crash falling from 1712 levels to 1363 and it broke down below Long Term Parallel Channel Around Jan last week - RBI directed LIC to take a big stake in HDFC bank, but there was absolutely no reaction in the price and it was still sustaining below the Parallel Channel Price later took support at 1363 in the Month of Feb...
#RblBank looking bullish from CMP - 254 observe this chart just for educational purpose 👍
NSE:HDFCBANK has already activated Harmonic Shark Pattern with the PRZ level 0.886 and 1.13 with target price 1480 and 1540 respectively . BUY : If price sustains above 1422,you will see good upside momentum in price. SELL: below 1422 this pattern will be invalidated.
It is above its 200 ema and have breakout of consolidation one can take entry at cmp or after a retractment and keep sl below previous swing low RSI is above 50 volume is good on breakout Not a financial advisor
NSE:ICICIBANK has already nearest to the PRZ level 1.272 at 805-806. There would be higher chance of correction at this level. BUY: Those who have can book their profit or New buying will come when it takes the pullback up to 755. SELL: You can take a short after price will show any rejection.
1. Confluence of 200 EMA 2. Channel Support at 200 EMA 3. Strong support at the levels shown and bound to consolidate in the channel , If break down occurs will see lower levels . 4. However , All private sector bank moving toward in improvement zone in RRG .
This is a great setup I found this can be an epic multi-bagger stock will decide about this after its fundamental analysis, for now, its technicals are really great.