HDFC Bank has formed a descending triangle pattern on the 30-minute time frame, and it is currently near a crucial support zone. A breakdown below this zone could present a favorable shorting opportunity.
However, if the price manages to hold near the support zone and breaks above the descending trendline, it may signal a potential long opportunity for intraday traders. The target for this trade could be set at the 200-day Exponential Moving Average (EMA). In case of a successful breakout, the uptrend could potentially continue for 1-2 days.
