EquityPandit’s Outlook for HDFC Bank for the week  (Aug 28, 2017 – Sep 01, 2017) :

HDFC BANK:

HDFC Bank closed the week on positive note gaining around 0.60%.

As we have mentioned last week that minor support for the stock lies in the zone of 1735 to 1740. Support for the stock lies in the zone of 1710 to 1720 from where the stock broke out of June-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of around 1680 to 1690 where short term moving averages are lying. During the week the stock manages to hit a low of 1737 and close the week around the levels of 1762.

Minor support for the stock lies in the zone of 1735 to 1740. Support for the stock lies in the zone of 1710 to 1720 from where the stock broke out of June-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of around 1680 to 1690 where short term moving averages are lying.

Minor resistance for the stock lies in the zone of 1770 to 1780. Resistance for the stock lies in the zone of 1800 to 1810 where the stock has formed a short term top. If the stock manages to close above these levels then the stock can move to the levels of around 1850 to 1860.

Broad range for the stock in the coming week can be 1720 to 1730 on lower side & 1800 to 1810 on upper side.