seach-icon
  • user-img

    Vikshita Vitthal Gujaran in News

    10-Nov-2022 07:40 AM


    thumbnail

    Can HDFC Bank Lead Nifty Bank Index's Rally?

    The Bank Nifty index has rallied over 17% in 2022 so far.
    But something all beginnings have an end, and it seems to be an end to this trend.
    If HDFC Bank heads northwards with a faster rally to catch up with ICICI Bank, Axis Bank, and SBI, the failure of the breakdown on the ratio chart can be confirmed.
    It has been 18 years and HDFC Bank is outperforming the Bank Nifty and taking the index to new highs.

    But something all beginnings have an end, and it seems to be an end to this trend.

    On the ratio chart, the slope is trending southwards and has broken the 18 years rising trendline.

    The break of the rising trendline is a sign of reversal from bullish to bearish and the bearish chart means an end to the outperformance of HDFC Bank against Bank Nifty.

    Source - NDTV

    #HDFC #nifty