EquityPandit’s Outlook for HDFC Bank for the week   (Jan 29, 2018 – Feb 02, 2018) : 

HDFC BANK:

HDFC Bank closed the week on positive note gaining around 1.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1960 to 1970. If the stock manages to close above these levels then the stock can move to the levels of 2000 to 2010. During the week the stock manages to hit a high of 1988 and close the week around the levels of 1975.

Minor support for the stock lies in the zone of 1930 to 1940. Support for the stock lies in the zone of 1900 to 1910 where break out levels are lying. If the stock manages to close below these levels then the stock can drift to the levels of around 1840 to 1850 where short term moving averages and break out levels are lying.

Resistance for the stock lies in the zone of 2000 to 2010. If the stock manages to close above these levels then the stock can move to the levels of 2040 to 2050.

Broad range for the stock in the coming week can be 1930 to 1940 on lower side & 2020 to 2030 on upper side.