EquityPandit’s Outlook for HDFC Bank for the week (June 29, 2020 – July 03, 2020):
BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS
Stock closed the week on positive note gaining 2.23%
Week High: 1063
Week Low: 1007
Week Range: 56 Points
HDFC Bank Ltd.
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1007 levels, Minor resistance on the upside is capped around 1082 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 @ 969 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 @ 1119
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 1119 on upside and 969 on downside.
WEEKLY PIVOT LEVELS: