As per analysis done for 16th June, HDFC bank prices today confirmed a range bound session.
For 17th June, the hourly chart is showing a inverted head and shoulder pattern, which is indicating, that stock prices are expected to
rise in the morning session. However, this analysis is subject to a favorable impact of US Fed Policy update in Indian market. Therefore recommendation for 17th june is:
Breakout after it crosses INR 1496 Level.
In case of unfavorable impact of US Fed policy update, it may test INR 1462 Level.
Trading range: INR 1462 to INR 1496
Breakout : INR 1496 onwards.
For 17th June, the hourly chart is showing a inverted head and shoulder pattern, which is indicating, that stock prices are expected to
rise in the morning session. However, this analysis is subject to a favorable impact of US Fed Policy update in Indian market. Therefore recommendation for 17th june is:
Breakout after it crosses INR 1496 Level.
In case of unfavorable impact of US Fed policy update, it may test INR 1462 Level.
Trading range: INR 1462 to INR 1496
Breakout : INR 1496 onwards.