EquityPandit’s Outlook for HDFC Bank for the week (May 11, 2020 – May 15, 2020):

HDFC BANK:

BSE: 500180| NSE: HDFCBANK| ISIN: INE040A01026| SECTOR: BANKS

Stock closed the week on negative note losing-7.27%

Week High: 1001.75

Week Low: 911.65

Week Range: 90.10 Points

HDFC Bank Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 843 levels, Minor resistance on the upside is capped around 988 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 @ 810 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 @ 1081.50

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 1081.50 on upside and 810 on downside.

Weekly Pivot Levels: