EquityPandit’s Outlook for HDFC Bank for the week  (Nov 20, 2017 – Nov 24, 2017) :

HDFC BANK:

HDFC Bank closed the week on positive note gaining around 0.20%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1830 to 1840 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1870 to 1880 where life time high for the stock is lying. During the week the stock manages to hit a high of 1838 and close the week around the levels of 1826.

Support for the stock lies in the zone of 1810 to 1820 where short term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of around 1770 to 1780 where medium term moving averages are lying.

Resistance for the stock lies in the zone of 1830 to 1840 from where the stock broke down after consolidation. If the stock manages to close above these levels then the stock can move to the levels of 1870 to 1880 where life time high for the stock is lying.

Broad range for the stock in the coming week can be 1780 to 1790 on lower side & 1860 to 1870 on upper side.