Today in a very strong market, HDFCBANK
opened with GAP UP but could not show much strength as it has been showing for a few days. On Hourly charts two Doji
has been formed with long up wicks that indicates exhaustion. Tomorrow if price of HDFCBANK
opens with GAP DOWN, this may create an island reversal (Speculative only and it depends upon Tomorrow's opening and high).
If it opens with a gap down, then, there may be an exit or a short opportunity in HDFC Bank
Tomorrow if market opens strong but HDFCBANK
opens weak, then, its time to exit long trades but, ideally, we should wait for the market to turn weak before shorting in this stock.