HDFC Bank – Rising Megaphone & RSI Divergence

Price structure since 2020 has unfolded inside a broadening rising channel (megaphone type). The latest high at ₹1,018.85 came right at the upper boundary.

Price action: A fresh high was made, but momentum did not confirm.
RSI: Long-term bearish divergence is visible – each new price high comes with weaker RSI peaks. Still, RSI is holding above the 50 zone and its rising trendline.

Implications:

• If RSI holds above 50, bulls may attempt another breakout above ₹1,018.85.
  
• If RSI breaks below 50 and the trendline, the bearish divergence will likely play out with price sliding toward the lower boundary near ₹820–850.
  

This makes the current zone a make-or-break region for HDFC Bank.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.