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