HDFC;BANK is poised very interestingly, basically it is the only heavy weight stock which has not broken major PATTERN supports. But there are some cracks on short term setup, would be little bit aggressive, according to it’s short term pattern if (HDFC BANK) fails to take out the recent high off 1669 then it can easily break the low off 1585 and make lower lows closer to 1540-1560 on cash. a print of 1560 would complete the TRIANGLE and break of 1540 would signal a medium term weakness on this STOCK.
This is comparatively a risky setup to short, so need to manage positions wisely!
HDFC BANK view
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