HDFC BANK LTD
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Is HDFC Bank aiming to hit 2200+ in the coming months?

Diupdate
Reason for going long on HDFC:

Ichimoku:
HDFC stock has been sideways for years but is slowly turning bullish after hitting strong Ichimoku cloud support at 1350. It is now crossing the Tenkan-sen (TS) and Kijun-sen (KS) on the monthly chart.

Fibonacci + Fib Channel:
When we draw the Fibonacci channel and Fibonacci extension of swings, it looks like HDFC is set to hit 2200 in the coming months.

Buy on Dip:
The current market price (CMP) is 1604. Any good dip near 1450-1520 presents a great buying opportunity for the long term.

Disclaimer: We are not SEBI registered. The content presented here is based on our personal opinions. Conduct your own research and consult with a qualified financial advisor before making any investment decisions.
Catatan
Date: 27th June 2024

High made 1716 after our entry at 1608.

HDFC gave good returns and hit our supply zone. HDFC Bank may spend some time consolidating before it blasts off. We can continue holding for the long term, at least 8-12 months, for better returns.

SIP is the best strategy, and if we get the price around the mentioned dip level, we can be aggressive in averaging and hold tightly.
Catatan
Date: 3rd July 2024

HDFC Bank hit an all-time high today.

High made - 1794

CMP is 1768.

ROI - 10% in 20 days.
Fibonacci ExtensionHDFCBANKhdfcbankanalysishdfclongichimokuchartichimokusignalTechnical IndicatorsParallel ChannelTrend Analysis

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