HDFCBANK--Consolidation??

Observations::
This is also continuation update of HDFCBANK Analysis::
In my last update about drop base drop formation.

the demand zone is restrict the price to go down, witness a consolidation stage is observed in HDFCBANK,
we have to see if price drop continue to 1590 range, then we expect a rise from this zone,
if acts as support we will see again the previous drop (gap down) may be filled on upside.

Consolidation + fall = rise from demand
consolidation + rise= fall from Supply
keep track this.

The One reason for BANKNIFTY is in Consolidation is their more contributors SBIN and HDFCBANK are in consolidation.

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Comment:

HDFCBANK finishes the Bullish gap , we have a bearish gap above if price comes to tat area will again go for sell.