EquityPandit’s Outlook for HDFC Bank for the week (July 06, 2020 – July 10, 2020):
BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS
Stock closed the week on positive note gaining 1.65%
Week High: 1111.25
Week Low: 1037
Week Range: 74.25 Points
HDFC Bank Ltd.
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1055 levels, Minor resistance on the upside is capped around 1111 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 @ 1036.50 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 @ 1141
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 1141 on upside and 1036.50 on downside.
WEEKLY PIVOT LEVELS: