EquityPandit’s Outlook for HDFC Bank for the week (Jan 13, 2020 – Jan 17, 2020):
BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS
Stock closed the week on positive note gaining 0.99%
Week High: 1286.85
Week Low: 1236
Week Range: 50.85 Points
HDFC Bank Ltd.
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1275 levels, Minor resistance on the upside is capped around 1287 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Major Support on lower side @ 1263 and If stock breaches minor resistance on the upside and closes above it we may see fresh breakout and stock can head towards Major Resistances Level @ 1295.
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 1300 on upside and 1250 on downside.