HDFCBANK
HDFC BANK’s down move may see some restriction as per 5min as well as hourly HA Chart at or around 780-784 levels. The charts are looking bearish so far so but the uncertainty may give wild swings on either side.
Anyone considering buying HDFCBANK may consider the same if sustaining above 825.75 on 5min as well as hourly charts for target of 833.75 followed by 841.5 and 855.25. If someone wishes to enter the long position in aggressive way, then may consider at CMP (811) with target of 819.40 followed by 826.75. However, it would be prudent to book and keep trailing your positions around given levels.
On the short side a trade is advised only if on 5min as well as hourly charts it is sustaining below 797.95 with target of 784.55 followed by 770.05 and 750.
My personal bias is Bearish on HDFCBANK but will consider waiting for clear direction rather entering the trade, however it is wise to stick to levels give only.
p.s. –. Trading in current markets is very risky due to uncertainty and volatility in the market but will trade as per my given levels only. Please trade as per your comfort and risk. These levels have derived by analyzing Options data and spot price movement.