Signals, Powered By EquityPandit
HDFCBANK Weekly Outlook and Analysis:
For the Week: (May 3,2021 – May 7,2021)
BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS
HDFC Bank Share Price: 1412.30 (NSE)
HDFC Bank closed the Week on Negative Note Losing 0.13%
Weekly High: 1503.65
Weekly Low: 1402.75
Weekly Range: 100.90 Points
Weekly Support & Resistance For HDFC Bank:
| RESISTANCE 2 | 1540 |
| RESISTANCE 1 | 1476 |
| SUPPORT 1 | 1375 |
| SUPPORT 2 | 1338 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1375 levels, Minor resistance on the upside is capped around 1476 levels.
If stock breaches minor support on the downside and closes below it we may see fresh break down and stock can drag towards Ma-jor Support on lower side @1338 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 1338 on downside.
On daily chart we can see that stock closed below 100 EMA support in last trading session. A black body appeared on the candle. For the near term stock can take support near 1380 level on downside.
