#HDFCBANK
The setup looks favorable above 1531 for target's of 1640+

#StockMarket #StocksToWatch

More from Gurleen

#KOTAKBANK Update
Midway resistances held up strong.

Once these are breached, It is poised for more towards 1950 followed by 2000.

#StockMarket #StocksInFocus https://t.co/kswtnvjQM8

More from Hdfcbank

#HDFCBANK ~A Thread 🧵
Let's look at the Multi-TF Technical aspect~

In weekly; Price marked by converging trend lines.

Representing consolidation prior to continuing in the direction of existing trend.

Sustenance above 1531 and a break-through at 1579.35 would trigger 1640+

+


In daily; it's showing a counter-trend move that has followed after a sharp price movement.

Rejection level at 1579.35 which needs to be breached for extended upside.

Both Weekly and daily charts are indicating the resumption of the prior trend.

+


It has been on my radar since August series and I have been watching out for these levels to be neatly breached for a bullish move.


The news is also favorable for #HDFCBANK.

In their last commentary, Bank said~ the transportation finance disbursements are 110% of May numbers.
July was 40% higher than the month of June and August was twenty 25% higher than July.

+

Bank is very upbeat about it's growth in rural and semi-rural areas.

Right now they are active in total of 1 Lac villages.

Within two years they aim to expand it to 2 Lac villages as it's going to be major part of their loan book.

+
IF #Nifty to go to 18850-19713 & more, heavy weights such as
#Hdfc (3190++)
#Hdfcbank (1724++)
#Reliance (2834++)
#ITC (274++) these are "just min. targets"
& many more would move up significantly
@rlnarayanan https://t.co/iVYE1F7l6v

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