HDFC BANK

HDFC Bank Outlook for the Week (June 8, 2020 – June 12, 2020)

EquityPandit’s Outlook for HDFC Bank for the week (June 8, 2020 – June 12, 2020):

HDFC BANK:

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

Stock closed the week on positive note gaining 3.15%

Week High: 1042.40

Week Low: 1002.80

Week Range: 39.60 Points

HDFCBANK

HDFC Bank Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 990.60 levels, Minor resistance on the upside is capped around 1048.20 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 @ 964.25 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 @ 1082.95

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 1082.95 on upside and 964.25 on downside.
WEEKLY PIVOT LEVELS:

RESISTANCE 2 1066
RESISTANCE 1 1050
SUPPORT 1 1010
SUPPORT 2 987

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