Price structure since 2020 has unfolded inside a broadening rising channel (megaphone type). The latest high at ₹1,018.85 came right at the upper boundary.
Price action: A fresh high was made, but momentum did not confirm.
RSI: Long-term bearish divergence is visible – each new price high comes with weaker RSI peaks. Still, RSI is holding above the 50 zone and its rising trendline.
Implications:
This makes the current zone a make-or-break region for HDFC Bank.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
Price action: A fresh high was made, but momentum did not confirm.
RSI: Long-term bearish divergence is visible – each new price high comes with weaker RSI peaks. Still, RSI is holding above the 50 zone and its rising trendline.
Implications:
- If RSI holds above 50, bulls may attempt another breakout above ₹1,018.85.
- If RSI breaks below 50 and the trendline, the bearish divergence will likely play out with price sliding toward the lower boundary near ₹820–850.
This makes the current zone a make-or-break region for HDFC Bank.
Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
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WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
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Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.