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HDFC BANK (INDIA) WEEKLY CHART ANALYSIS UPDATED WITH ELLIOT WAVE COUNTS -JULY 6 2012

|Includes:HDFC Bank Limited (HDB)

HDFC bankhas broken out of a leading diagnal pattern formation and is headed higher to 616/646. The bullish view will be cancelled if the stock breaks 549.

Mohan Raghav
CEO, Financial Markets Algorithms
Web: www.financialmarketsalgorithms.com
blog: fmatechnicals.blogspot.com/
Twitter: camohanraghav

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: HDB