Signals, Powered By EquityPandit
HDFCBANK Weekly Outlook and Analysis:
For the Week: (Feb 28, 2022 – March 04, 2022)
BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS
HDFC Bank Share Price: 1456.10 (NSE)
HDFC Bank closed the Week on Negative Note Losing 3.72%
Weekly High: 1530.70
Weekly Low: 1407.15
Weekly Range: 123.55 Points
Weekly Support & Resistance For HDFC Bank:
| RESISTANCE 2 | 1587 |
| RESISTANCE 1 | 1521 |
| SUPPORT 1 | 1400 |
| SUPPORT 2 | 1340 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1400 levels, Minor resistance on the upside is capped around 1521 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 @1340 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 @1587
Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the Weekly as 1587 on upside and 1340 on downside.
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
