EquityPandit’s Outlook for HDFC Bank for the week(April 29,2019 – May 03,2019):

HDFC BANK:

HDFC Bank Ltd.

BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS

Stock closed the week on negative note losing-0.65%

Week High: 2,290.15

Week Low: 2,245.65

Week Range: 44.50 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 2220- 2225 levels, Minor resistance on the upside is capped around 2295- 2300 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 @ 2180- 2185 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 @ 2330- 2335

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the week as 2330-2335 on upside and 2180-2185 on downside.