HDFCBANK Weekly Outlook and Analysis:

For the Week: (Aug 03,2020 – Aug 07,2020)

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

HDFCBANK SHARE PRICE: 1032.80 NSE

Stock closed the week on negative note losing 7.7%

Week High: 1103

Week Low: 1020.05

Week Range: 82.95 Points

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1000 levels, Minor resistance on the upside is capped around 1084 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 @ 1135

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 1135 on upside and 969 on downside.

On the daily chart HDFCBANK is moving in impulse wave pattern .Wave 3 is completed near 1139 levels and wave 4 is in progress . Stock can take support from 1020-1019 level.

HDFCBANK Weekly Support  & Resistance Levels: