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HDFCBANK at an important levelNSE:HDFCBANK is an important stock as it has the power to really move the Indian broad market index, NSE:NIFTY . After some rather strong moves towards the end of last week, we can see it closing in on its next resistance (highlighted red) soon. With a strong Earnings reported over this weekend (double-digit growth), one of two possibilities emerge: Strong moves were due to favorable earnings expectations and it can be a "buy the rumour sell the news" scenario The momentum continues and we see some more positive moves ahead for HDFCBANK. If HDFCBANK is able to power through its coming resistances, it will become that much easier for NSE:NIFTY to be comfortable at higher levels, too.
NSE:HDFCBANK
by MarketsWithKR