Hi guys, this Thenali view, today we are going to discuss
about the HDFC Bank for the intraday analysis 03-Feb-2021.
HDFC Bank has opened at 1501 and touched the day low of
1497.40 and then it was bounced to All time high of 1578.50.
Let See the S & R on Monthly Weekly Daily & 1hr time Frame:
Monthly: 1578.50 & 1119.80
Weekly: 1376.25, 1181.10 & 990.20
Daily: 1445.60, 1360.55 & 1252.15
Finally 1hr: 1551.40, 1493.30, 1441.85 & 1348.10
Will is the trade set tomorrow?
CPR : 1537.95 & 1553.05
Pivot: 1545.50
Pivot : Support and Resistance:
R1 1,593.60 S1 1,512.50
R2 1,626.60 S2 1,464.40
R3 1,707.70 S3 1,383.30
CPR will be Bearish Bias.
Yesterday Today CPR will be Virgin CPR and it will extended
tomorrow.
Overview:
Case 1: If the Script goes pass the below the CPR go for Short.
Target - 1495 & 1460
or
Case 2: If the Script goes above the today High (All time High) then go for Long.
Target - 1600 & 1630
Impression: Bearish in HDFC Bank
Disclaimer: Kindly do your own analysis before executing this trade. I am not a SEBI Registered Analyst.