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HDFC BANK LTD EACH CEDEAR REP 0.5 ADRHDFC BANK LTD EACH CEDEAR REP 0.5 ADRHDFC BANK LTD EACH CEDEAR REP 0.5 ADR

HDFC BANK LTD EACH CEDEAR REP 0.5 ADR

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HDFCBANK : 18th June (long)As per my last post, INR 1462 stood as major support level for HDFC bank in 17th June trading session. For 18th June, major support level is INR 1454.70 and 1st resistance is INR 1471.75. Support and resistance are based on fibonacci drawn on ( low of 14th May and High of 1st June) Moreover, on daily charts, HDFC bank made a Gravestone Doji on 17th June, indicating a high chance of reversal of downward trend. Therefore, my expectation is that HDFC bank will trade higher in tomorrow's session and should be seen trading in INR 1471.75 - INR 1480 range.
NSE:HDFCBANKLong
by nitinavinashlal
HDFCBANK 17th June 2021 (Long)As per analysis done for 16th June, HDFC bank prices today confirmed a range bound session. For 17th June, the hourly chart is showing a inverted head and shoulder pattern, which is indicating, that stock prices are expected to rise in the morning session. However, this analysis is subject to a favorable impact of US Fed Policy update in Indian market. Therefore recommendation for 17th june is: Breakout after it crosses INR 1496 Level. In case of unfavorable impact of US Fed policy update, it may test INR 1462 Level. Trading range: INR 1462 to INR 1496 Breakout : INR 1496 onwards.
NSE:HDFCBANK
by nitinavinashlal
HDFCBANK :16th June ( Neutral)By the end of trading day on 15th June, HDFCbank made a bullish spinning top candle ( on daily basis) indicating reversal of downward trend of having lower closing price since last 7 trading days. On hourly basis, HDFCbank stock price crossed its 200 DEMA which is a positive indicator of the strength in the price movement. As per my last post, INR 1478.75 stood as a strong support and also point from where breakout in today’s (15th June) session started. However, INR 1496/1495.5 is a strong resistance from where prices have been pushed backwards on 15th June session. For 16th June, the expectation is that stock price to be range bound in INR 1478 – INR 1496 levels. I will be cautious in going for fresh long on 16th June. If you are already holding the stock, like me, I would suggest to hold back. As any consolidation around INR 1490 levels will lead to next rally upto INR 1520
NSE:HDFCBANK
by nitinavinashlal
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