Check HDFC BANK Full Analysis At Unicorn Signals

HDFCBANK Weekly Outlook and Analysis:

For the Week: (Dec 05, 2022 – Dec 09, 2022)

Check HDFCBANK Full Analysis At Unicorn Signals

BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS

HDFC Bank Share Price: 1617.65 (NSE)

HDFC Bank closed the Week on Negative Note losing 0.65%

Weekly High: 1637

Weekly Low: 1592.85

Weekly Range: 44.15 Points

Weekly Support & Resistance For HDFC Bank:

RESISTANCE 2	1660
RESISTANCE 1	1639
SUPPORT 1	1595
SUPPORT 2	1572

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1595 levels, Minor resistance on the upside is capped around 1639 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 @1572 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 @1660

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 1660 on upside and 1572 on downside.

In short, MSFL looks to be positive. Move towards 499 levels can be expected on upside. This outlook is valid as long as 420 remains protected on downside