Technical Call on HDFC BANK

Using a very simple and conventional technical technique - we now see that the 5 DMA and 10DMA  have started to rise over the 20 DMA - the simple rule generates a buy signal when the smaller moving averages are above the larger moving average and triggers a sell/short signal when the smaller moving average goes below the larger or 20 DMA. The application uses a variation of 5,10 and 20 DMA.

As we can see MACD has also generated a buy signal for HDFC BANK.

The equity has been finding and using 2275 as a support line. Short term call or target for HDFC BANK stands at  2350, 2400 and 2475