Technical Updates on HDFC Bank and Infy

HDFC Bank Weekly Chart

HDFC Bank was in down trend from few months and now signs of uptrend are visible. It has taken trend line support at Rs.640 and made a bounce back. Long position can be created. More details for subscribers.

Infy

Infy made a spectacular rally after quarterly result. However it has entered consolidation phase. It has support around Rs.2735 and closing below this level will lead to further fall.

Nifty medium term trend

Trend	UP
Initiation Date	29-11-12
Initiated at	5825
High since change	6111
Reversal if closes below	5800

Thought for the day 

“I encourage you to accept that you may not be able to see a path right now, but that doesn't mean it's not there.”- Nick Vijucic