Will Bullish Run Continue in Hdfc Bank?

Hi guys, welcome to Thenali views.

Today we are going to Analysis the intraday analysis of HDFC Bank for 15-Feb-2021.

HDFC Bank has opened with of 1573.90 and touched the day high if 1592.50.

The script has strong resistance at 1591. On breaking the resistance it has some support in today CPR, but once the breakout happened in the CPR the script has touched the day high of 1592.50 which was strong resistance range where the script returned back from the resistance range and closed near 1581.95

Expectation tomorrow:

CPR: 1582.25 & 1582.75
Pivot:: 1582.50

CPR: Bullish Bias

Support and Resistance for Tomorrow:

R1 1,592.00 S1 1,572.50
R2 1,602.00 S2 1,563.00
R3 1,621.50 S3 1,543.50


Trade Setup:

Case 1 :

If the Script goes pass above the CPR go for buy. But the there was strong resistance in 1hr time frame at 1591. If the script breaks the resistance of 1hr time frame then the target - 1600

Case 2:

If the script breaks the CPR level and 12-feb-21 Day low then go for Short. Target - 1550


Disclaimer:
Kindly do your own analysis before executing this trade. I am not a SEBI Registered Analyst.