HDFC Bank is having trading range between 2260 to 2400 where it gets resisted by upper trend line and on downside gets support at lower trendline.Daily chart of HDFC bank is displayed below with upper and lower trend lines.
Stock has formed a DOJI candelstick formation with a ambiguity within buyes and sellers to decided the furthur course of action for the stock.
Buy above 2400-2406 Tgt 2417,2434 and 2448 Sl 2388
Sell below 2389 Tgt2378,2361 and 2350 Sl 2407
Buy above 723 Tgt 735 and 752
Sell with SL of 722 Tgt 705 and 692
Breakout on weekly chart from inverted head and shoulder supports buying argument from the current levels.
The stock has given steady bounce back from the medium term support levels of Rs[email protected] 200 DMA leading to formation of ‘bullish belt hold’an pattern on candlestick.
The pattern signifies trend reversal from its short term consolidation along with resumption of bullish momentum.
CIPLA is trading at all time high with the major obstacles been cleared, stock can see good moves in coming week.
Buy above 375 Tgt 381,387 and 400 Sl 358