HDFCBANK short positionHDFCBANK is in the uptrend.
The price found support on the upsloping trendline. We may get a weekly bullish engulfing candle which should imply more upside action.
We expect the price to reach the upsloping resistance which would be our entry for a short position. From there we would target the support of this rising channel.
The invalidation of this thesis would be if we get a weekly candle close above the upsloping resistance line.
RSI found support at 48 which also shows that the trend may have more legs therefore we expect the price to continue the uptrend
good luck