Signals, Powered By EquityPandit
HDFCBANK Weekly Outlook and Analysis:
For the Week: (Jan 18,2021 – Jan 22,2021)
BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS
HDFC Bank Share Price: 1466.65(NSE)
HDFC Bank closed the Week on Positive Note Gaining 2.45%
Weekly High: 1496.90
Weekly Low: 1436.30
Weekly Range: 60.60 Points
Weekly Support & Resistance For HDFC Bank:
| RESISTANCE 2 | 1528 |
| RESISTANCE 1 | 1500 |
| SUPPORT 1 | 1435 |
| SUPPORT 2 | 1405 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1435 levels, Minor resistance on the upside is capped around 1500 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 @1405 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 @1528
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. . EquityPandit’s Predicts Range for the Weekly as 1528 on upside and 1405 on downside.
On daily chart we can see HDFC BANK share price trading above Double Bottom pattern and stock had finally given breakout over its consolidation phase. A break above 1500 level can take price higher towards levels 1550 as long as 1442 remain intact on downside.
