HDFCBANK Weekly Outlook and Analysis:

For the Week: (June 14,2021 – June 18,2021)

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

HDFC Bank Share Price: 1486.35 (NSE)

HDFC Bank closed the Week on Negative Note Losing 0.97%

Weekly High:1514

Weekly Low: 1472.05

Weekly Range: 41.95 Points

Weekly Support & Resistance For HDFC Bank:

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1470 levels, Minor resistance on the upside is capped around 1509 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 @1448 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 @1532

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 1532 on upside and 1448 on downside.

In the daily chart, we can see that stock is moving below key resistance level. Stock will not have any sustainable up move unless this level of 1525 is taken out. Prices can take support near 1460 level.

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