HDFC BANK 1:5 TRADE SETUP

27 Oca 2022

HDFCBANK has corrected around 15% from its all time high and price is currently at an important support trendline.

Price opened gap down but still made green candle in the last 2 trading sessions - showing demand as price approaches the trendline.

A 1:5 trade can be taken with a very tight stoploss.

It is important to note that script is very weak and oversold and may continue to be so.
Low probability but low risk high reward setup.

Book profits at the top of the channel and trail stoploss.

Position size accordingly. HAPPY TRADING!