HDFC BANK

HDFC Bank Outlook for the Week (June 22, 2020 – June 26, 2020)

EquityPandit’s Outlook for HDFC Bank for the week (June 22, 2020 – June 26, 2020):

HDFC BANK:

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

Stock closed the week on positive note gaining 5.1%

Week High: 1043

Week Low: 943

Week Range: 100 Points

hdfcbank

HDFC Bank Ltd.

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 997 levels, Minor resistance on the upside is capped around 1065 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 @ 961 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 @ 1102

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 1102 on upside and 961 on downside.

 

WEEKLY PIVOT LEVELS:

RESISTANCE 2 1106.50
RESISTANCE 1 1070
SUPPORT 1 970
SUPPORT 2 906.50

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