HDFCBANK Long Base BO [Weekly]
HDFCBANK is finally showing a pattern I like to see in a tough market that too. Its in range of <8% from 50 DMA as well so in case it turns, we can keep that as SL level.
Did come in the momentum basket screener last week as well. Among the Pvt sector Banks, ICICI and HDFC are the ones holding in overall market volatility.
My guess is HDFCBANK might give good returns if this support is sustained and Nifty improvement kicks in.
Its the cycle, when Index recovers, some new scrips take the lead and money flows there.
Did come in the momentum basket screener last week as well. Among the Pvt sector Banks, ICICI and HDFC are the ones holding in overall market volatility.
My guess is HDFCBANK might give good returns if this support is sustained and Nifty improvement kicks in.
Its the cycle, when Index recovers, some new scrips take the lead and money flows there.
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