HDFCBANK Weekly Outlook and Analysis:

For the Week: (March 29,2021 – April 02,2021)

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

HDFC Bank Share Price: 1491.30 (NSE)

HDFC Bank closed the Week on Negative Note Losing 0.41%

Weekly High: 1507.45

Weekly Low: 1450.25 

Weekly Range: 57.20  Points

Weekly Support & Resistance For HDFC Bank:

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1457 levels, Minor resistance on the upside is capped around 1515 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 @1425 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 @1540

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 1540 on upside and 1425 on downside.

On daily chart we can see that stock is facing hurdle near 1510-1511 levels. Only above that level we may see some positive strength in stock. On the downside stock has good support near 1450 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