HDFC BANK

HDFC Bank Outlook for the Week (June 1, 2020 – June 5, 2020)

EquityPandit’s Outlook for HDFC Bank for the week (June 1, 2020 – June 5, 2020):

HDFC BANK:

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

Stock closed the week on positive note gaining 13.44%

Week High: 955

Week Low: 848.75

Week Range: 106.25 Points

hdfc bank

HDFC Bank Ltd.

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 913.10 levels, Minor resistance on the upside is capped around 961.45 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 @ 888.70 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 @ 986.90

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 986.90 on upside and 888.70 on downside.

 

Weekly Pivot Levels:

RESISTANCE 2 1024.70
RESISTANCE 1 988.20
SUPPORT 1 881.95
SUPPORT 2 812.20

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