One of my blog reader and friend drew my attention to HDFC Bank... It seems we may see some profit booking in this (and other ) banking counter.
After testing the previous high near Rs 1840 the scrip seems to be in the process of making a H&S with the neckline very much near to the current price.
Investors in this stock may become alert and may want to book profit on break below Rs 1660/- (curr price Rs 1710). A minimum down target of Rs 1450/- is likely.
And yes - banking stocks are witnessing selling pressure in upmoves ... Beware ...
Happy trading !
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
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