HDFCBANK have printed the exact intraday LOW at 1380.
Yesterday we discussed this level as an ultimate support for this STOCK.
stock have registered a sharp recovery after testing its support.
Going forward if we want this STOCK to stabilize or recover along with NIFTY and NIFTY;BANK then todays low must hold.
A lower low below todays intraday low on HDFC BANK would create a dramatic panic in overall MARKET.
for NIFTY the unusual turn from the high of 22,124 is giving us that simillar sense which we had in 2022,
the MARKET dynamic so far are further confirming that.
We just love that kind of a MARKET and trading in such MARKETS is always a real paradise for a TRADER.
Technically NIFTY have broken all PATTERN supports,
specially the breakdown on HARMONIC PATTERN is more significant for us.
Downside target objectives continues to stay at 21,050 and 20,750 on spot.
There is no hurry to get there but gradually market is likely to drift lower.
exploit further rally to add shorts if you have missed the move from yesterdays high.
Protective puts for MARCH have done extremely well which I suggested earlier.
That going forward would continue to generate value in coming days.
gann,insides 