Presents a great trade here. In the next week stock is likely to see a pullback to the 1320 levels as confirmed by the oversold indicators and bearish harami on the weekly charts. Also given its sharp run up a pull back is in the offing.
Any dips below 1330 is a great opportunity to buy. There is a slight resistance at 1320 levels also. So this week good shorting opportunity and after the election results a great buying chance with HDFC bank.
Short trade set up
Buy 1370 levels
Sell 1320 levels
SL 1390 levels
Risk to Reward ratio of 2.5
Any dips below 1330 is a great opportunity to buy. There is a slight resistance at 1320 levels also. So this week good shorting opportunity and after the election results a great buying chance with HDFC bank.
Short trade set up
Buy 1370 levels
Sell 1320 levels
SL 1390 levels
Risk to Reward ratio of 2.5
