HDFC made a quiet 12 week long triangle breakout making its intentions clear. This heavy weight is still in very poor momentum with unimpressive volumes. It should pick up both the momentum and volumes once it crosses resistance at 2619 and head for triangle breakout target of around 3025 which also happens to be the first fibo target. Long term investors can pick up this rock steady heavy weight now and short term investors can make initial investment now and rest after it crosses 2619 as the momentum should pick up only then. With the index making yearly high it should not be long before HDFC breaks the resistance.
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