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HDFCBANK Weekly Outlook and Analysis:
For the Week: (Feb 01,2021 – Feb 05,2021)
BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS
HDFC Bank Share Price: 1390.50(NSE)
HDFC Bank closed the Week on Negative Note Losing 5.20%
Weekly High: 1481.00
Weekly Low: 1342.00
Weekly Range: 139.00 Points
Weekly Support & Resistance For HDFC Bank:
| RESISTANCE 2 | 1543 |
| RESISTANCE 1 | 1466 |
| SUPPORT 1 | 1327 |
| SUPPORT 2 | 1265 |
Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1327 levels, Minor resistance on the upside is capped around 1466 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 @1265 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 @1543
Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. . EquityPandit’s Predicts Range for the Weekly as 1543 on upside and 1265 on downside.
On daily chart we can see HDFC BANK share price opened on a negative note and remained in a falling trajectory throughout the week. A Doji candle appeared on the last trading day. The level of 1344 would be crucial in the near term as any breach of this level will invite incremental weakness
