HDFC BANK LTD
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HDFC BANK NSE

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DATE - 12th March 2024.

HDFC Bank has breakout today with good amount of candle size and volume too.

Applied Concepts

Chart P. - Inverted H&S

Positive Order Block from Daily Time Frame and Previous OB of Monthly TF as shown in chart.
Only OB is not a good option so here we have applied FVG (Fair Value Gap) also, Price Action has successfully reversed from FVG and gave confirmation for potential upside movement.

Targets
1st Target as per Chart P. is 1555 Rs.
and Further upside Target as per OB and FVG is 1700+.

Thank You!
Have a Good Day.





Ghi chú
Taking Support on H&S Neckline today.
Ghi chú
Monthly Closing in HDFC Bank is Showing Bullish Piercing Candle, it is considered as Strong bullish sign for HDFC Bank.
Next Strong support is 1422 Rs.
Ghi chú
T1 Achieved!!
BTW,
Thanks for Boosting this idea.
Ghi chú
1480 to 1470 Good Support Zone for HDFC Bank, Furthermore
BN is also showing Bullish Continues Divergence.
Ghi chú
As I mentioned in previous comments,
1480 to 1470 were good supports and today HDFC BANK reversed from 1480 RS and
Ghi chú
Expecting good movement in coming days, T2 is pending.
Ghi chú
Gaupp at 1528 Rs right above Resistance line in Daily TF,
If it sustains above gap, it will be Strong bullish sign for HDFC BANK & Bank Nifty too.
Ghi chú
Back on levels that previously worked as a support.
Let's see how it moves in next few days.
Ghi chú
Seems like HDFC Touched Bottom today and reacting from breakout level support.
Ghi chú
After 10th May's Bottom its Re-bounce, after 1555 T1 again 1700 T2 is still Remaining.
Ghi chú
Took 100EMA Support in Daily TF.
Ghi chú
Updated SL 1550 Rs
Ghi chú
Break 1600 Rs. Price point
Ghi chú
March to June
All Pre-Decided Targets Achieved
HDFC Bank Made ~1699 Rs High
Ghi chú
Thank You for Your Support!!!
Ghi chú
Further It can Breaks ATH price, but I am Closing majority of my positions here.
1700 Rs hurdle Breaks.
Ghi chú
3.49% Gap-up and Makes NEW ALL TIME HIGH LEVEL
Ghi chú
Similar Gap Downs and Similar Reversal Like it happened during Jan to Feb 2024, when I shared this stock on Trading View.
Ghi chú
Perfectly Reversing from
Fibbo level 0.5 to 0.68 Golden Reversal Zone
0.5 - 1610.70 Rs
to
0.68 - 167.30 Rs

Can make another ATH if Sentiment will go in Favour.
BANKNIFTYBullish PatternsbullishpatternChart PatternsfvgHDFCBANKhdfcbankanalysisTechnical IndicatorsnsenseindiaorderblocksTrend Analysis

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