Trading HDFC Bank: From Breakout to Breakdown

https://ganninsides.com/2024/12/18/hdfc-bank-stock-1800-or-bust/

“In my December 18th post on HDFCBANK, I identified 1800 as a critical support level. A breach of this level would likely signal a decline towards 1740 and 1660. The stock indeed reached our first target of 1740 earlier this month and today has finally reached the second target of 1660. This represents a substantial decline of nearly 10% in a single trade, a surprising turn of events considering the stock’s apparent breakout from a three-year consolidation phase in early December. Since late November, we have successfully traded this stock on both the long and short sides.”

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