EquityPandit’s Outlook for HDFC Bank for the week (May 18, 2020 – May 22, 2020):

HDFC BANK:

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

Stock closed the week on negative note losing 4.40%

Week High: 960

Week Low: 871.10

Week Range: 88.9 Points

HDFC Bank Ltd.

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 855 levels, Minor resistance on the upside is capped around 961 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 @ 822 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 @ 990

Stock is trading below 200 days exponential moving average, suggests long term trend is bearish. EquityPandit’s Predicts Range for the week as 990 on upside and 822 on downside.

Weekly Pivot Levels: