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Considering the overall chart structure, the expert anticipates short-term volatility and recommends buying Nifty at support near the 21,100 – 21,000 zone for an upside potential ranging from 21,500 to 21,850 levels.
The trust’s private listings are a point of contention between critics and supporters
HDFC Bank has traded way below all key moving averages (20, 50, 100 and 200 EMA - exponential moving averages) due to single-day big fall, while the stock is 77 rupees away from the low of October 2023 (Rs 1,460).
Sentiment could potentially deteriorate further if Nifty drops below 21,550, where the 21EMA is situated.
India’s largest private lender is going through a consolidation phase following the HDFC merger, which has prompted investors with a short-term outlook to consider alternatives, says Nath