Traders can sell the stock in the range of Rs 2080-2090 for the target of Rs 1980 and a stop loss above Rs 2141, says Rupak De of Bonanza Portfolio.
HDFC Bank has recently moved up from its recent low of Rs 1885 to Rs 2089 which 61.8 percent of the previous fall from Rs 2220 to Rs 1885.
On the other hand, a bearish Anti Cypher pattern has formed on the daily chart of HDFC Bank which may initiate a very short-term pullback in the stock.
Traders can sell the stock in the range of Rs 2080-2090 for the target of Rs 1980 and a stop loss above Rs 2141.Disclaimer: The author is a Technical Research Analyst at Bonanza Portfolio Ltd. The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.