Signals, Powered By EquityPandit
HDFCBANK Weekly Outlook and Analysis:
For the Week: (Sept 07,2020 – Sept 11,2020)
BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS
HDFC Bank Share Price: 1119.30 (NSE)
HDFC Bank closed the Week on flat note
Weekly High: 1148.80
Weekly Low: 1100.70
Weekly Range: 48.10 Points
Weekly Support & Resistance For HDFC Bank:
| RESISTANCE 2 | 1170 |
| RESISTANCE 1 | 1144 |
| SUPPORT 1 | 1096 |
| SUPPORT 2 | 1074 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1096 levels, Minor resistance on the upside is capped around 1144 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 @ 1074 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 @ 1170
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. EquityPandit’s Predicts Range for the Weekly as 1170 on upside and 1074 on downside.
Pattern analysis shows that HDFCBANK share price are moving in the form of symmetrical triangle pattern. As seen in daily chart stock took breakout from the same. In short trend we can see more weakness towards 1070 level.
