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TheChartereds
Sep 19, 2023 3:45 PM

HDFCBANK: A technical outlook 

HDFC BANKNSE

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The chart is pretty self-explanatory as always :)

What do you make of this price action?

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Price closed below 1500 on weekly. At a crucial game zone support.

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The price is holding up at the game zone.

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Reversed from the game zone

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Beautiful reversal

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Back to the game zone

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Comments
arulprakashamjv
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sleeping Bank instead go for pharma or gold companies
TheChartereds
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@arulprakashamjv, Short-term momentum is pretty good here. I'm not sure why you call it a sleeping bank. From a long-term perspective, a couple of years of consolidation after a huge rally (150%) is pretty normal, No?
arulprakashamjv
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@arulprakashamjv, long term means you are saying for 10 yrs that right
TheChartereds
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pranay00089
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I am not sure what are you trying to imply. HDFC currently taking fake support/forming a new support. chances to go down are high as there is resistance at this level? Game zone = trap zone?
TheChartereds
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Hey @pranay00089, The game zone is a concept in our Mentorship Programme. Exclusive for the community members
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