EquityPandit’s Outlook for HDFC Bank for the week  (July 24, 2017 – July 28, 2017) :

HDFC BANK:

HDFC Bank closed the week on positive note gaining around 1.40%.

As we have mentioned last week that resistance for the stock lies in the zone of 1720 to 1730. If the stock manages to close above these levels then the stock can move to the levels of around 1755 to 1765. During the week the stock manages to hit a high of 1715 and close the week around the levels of 1703.

Minor support for the stock lies in the zone of 1685 to 1690. Support for the stock lies in the zone of 1650 to 1660 from where the stock broke out and short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of around 1600 to 1610.

Resistance for the stock lies in the zone of 1720 to 1730. If the stock manages to close above these levels then the stock can move to the levels of around 1755 to 1765.

Broad range for the stock in the coming week can be 1670 to 1680 on lower side & 1730 to 1740 on upper side.