HDFCBANK | Symmetrical Triangle | Daily |Watchlist

### **Technical Analysis of HDFC Bank Ltd. (NSE)**
The **daily candlestick chart** of **HDFC Bank Ltd.** highlights key technical patterns, suggesting potential bullish momentum.

### **Key Observations:**
1. **Cup and Handle Formation:**
- A well-defined **cup and handle** pattern is visible, indicating prolonged accumulation.
- Breakout above **1,960.00 INR** confirms bullish sentiment.
- **Projected Target:** **2,057.30 INR**, a **11.62% upside** from breakout.

2. **Symmetrical Triangle Breakout:**
- Price action consolidating within a **symmetrical triangle**, leading to breakout confirmation.
- Strong move above **1,944.90 INR**, validating upward momentum.

3. **Volume & Price Action:**
- **Volume:** **14.37M** surpassing 20-day moving average of **10.13M**, confirming strength.

### **Support & Resistance Levels:**
- **Support:** **1,842.00 INR**, acting as a key cushion in case of pullbacks.
- **Resistance:** **2,057.30 INR**, aligning with the measured move projection.