As you can see in the chart above – HDFC stock has been in a tight trading range between 610 and 738 since start of 2011. Everytime – stock has tanked to 710-720: bulls have found reasons to buy and take the stock up and everytime stock has rallied to 720-738: bears have found reasons to short it. The stock is once again in the resistance territory of 720-738 but this time – stock is holding up well and exhibiting signs of strength near resistance
