EquityPandit’s Outlook for HDFC Bank for the week   (Jan 15, 2018 – Jan 19, 2018) : 

HDFC BANK:

HDFC Bank closed the week on absolutely flat note.

As we have mentioned last week, that resistance for the stock lies in the zone of 1880 to 1900 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 1930 to 1940. During the week the stock manages to hit a high of 1878 and close the week around the levels of 1865.

Support for the stock lies in the zone of 1840 to 1850 where short term moving averages and break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of around 1800 to 1810 where medium term moving averages and lows for the month of December-2017 are lying.

Resistance for the stock lies in the zone of 1880 to 1900 where life time high for the stock is lying. If the stock manages to close above these levels then the stock can move to the levels of 1930 to 1940.

Broad range for the stock in the coming week can be 1830 to 1840 on lower side & 1920 to 1930 on upper side.