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
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
WaveXplorer | Elliott Wave insights
📊 X profile: @veerappa89
📊 X profile: @veerappa89
İlgili yayınlar
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.