HDFC BANK

HDFC Bank Outlook for the Week (June 15, 2020 – June 19, 2020)

EquityPandit’s Outlook for HDFC Bank for the week (June 15, 2020 – June 19, 2020):

HDFC BANK:

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

Stock closed the week on Negative note losing 4.89%

Week High: 1066.65

Week Low: 928

Week Range: 138.65 Points

HDFC BANK

HDFC Bank Ltd.

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 954.80 levels, Minor resistance on the upside is capped around 1000.60 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 @ 926 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 @ 1027

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 1027 on upside and 926 on downside.

 

WEEKLY PIVOT LEVELS:

RESISTANCE 2 1131
RESISTANCE 1 1057
SUPPORT 1 918
SUPPORT 2 854

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