Before last quarter's earnings were announced, HDFC did 3-4 days of back-to-back gap ups and even on the day it reported earnings, again there was another gap up. And what happened in the afternoon when it announced earnings - crash and burn! Will something like that repeat?
Here's the weekly chart of HDFC.
Here's the monthly chart. 726 is like a "line in sand". If that is breached then it could head to 719-715-702. Stop loss for shorts has to be monthly VWAP @737-738
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