Futures Trade | A bullish breakout of a flag pattern in HDFC

HDFC is moving in an uptrend with a minor corrective decline. The range is classified as a flag and a breakout of falling minor trendline confirms a possible upside.

HDFC is moving in an uptrend with a minor corrective decline from Nov 20 highs. The decline is on lower, contracting volumes and suggests a correction within an ongoing trend. The range-bound action can also be classified as a flag as it is on coming off a sharp rally. A breakout of falling minor trendline confirms a possible upside. Buy around Rs 2300-2310. Keep a stop below Rs 2250 and hold for a target of Rs 2400 and above that to Rs 2450.

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