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HDFC Bank Share Review suggests that the HDFC Bank stock is trading in an upward moving channel which suggests a bullish for positional trade. However, you should enter in stock at the right entry point i.e. at the bottom of the channel line. Currently, the stock is moving towards the bottom line.
HDFC Bank Stock has also formed a flag on the daily chart. The flag pattern is a continuation pattern and it suggests a bullish signal. It also formed a triple top and has broken its neckline. It is not a good sign of price action analysis.
The Heikin Ashi and Stochastic RSI candles suggest that stock can move up as the Stochastic RSI is in an oversold zone. The Fibonacci retracement suggests that the normal retracement level for an HDFC Bank stock is 78.6% and it suggests further correction in the stock from the current level. Therefore, It is bearish.
The exponential moving average analysis suggests that stock is trading below the 20 period moving average. It is a bearish sign. The option chain analysis is bearish and the price, volume & delivery percentage analysis is bullish i.e. suggesting a reversal in the stock.
HDFC bank is outperforming it’s index i.e. bank nifty on both short and long term horizon.
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