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Friday, 15 March 2013

HDFC BANK VIEW

HDFC BANK (CMP: 642):

Stock to remain in uptrend till it sustains 610/15 levels. Any Volume Breakdown and weekly close below the same can be a signal of end of uptrend and stock can tank in 3 corrective wave pattern. In such case initial correction can be seen up to 515/55 band where stock is likely to meed important support.

Upside remains capped until it trades below 680/85 levels. In other wards, stock to remain under pressure and can't see any upside and test all time high until it trades below said mark.
IMPORTANT SUPPORT ZONES: 610/15--515/55--395
MAJOR RESISTANCES: 680/85--705/20--775

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