#HDFCBANK

Does it take support at the lower end of the channel and bounces back

Lets see what happens from here

More from Nikita Poojary

One of the most successful stock trader with special focus on cash stocks and who has a very creative mind to look out for opportunities in dark times

Covering one of the most unique set ups: Extended moves & Reversal plays

Time for a 🧵 to learn the above from @iManasArora

What qualifies for an extended move?

30-40% move in just 5-6 days is one example of extended move

How Manas used this info to book


Post that the plight of the


Example 2: Booking profits when the stock is extended from 10WMA

10WMA =


Another hack to identify extended move in a stock:

Too many green days!

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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+

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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.

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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.

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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.

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