EquityPandit’s Outlook for HDFC Bank for the week  (Sep 25, 2017 – Sep 29, 2017) :

HDFC BANK:

HDFC Bank closed the week on negative note losing around 1.30%.

As we have mentioned last week, that the stock is in strong uptrend. Practically no resistance is visible. Resistance for the stock lies in the zone of 1850 to 1860. If the stock manages to close above these levels then the stock can move to the levels of 1890 to 1900. During the week the stock manages to hit a high of 1868 and close the week around the levels of 1824.

Support for the stock lies in the zone of 1800 to 1810 from where the stock broke out of August-2017 highs. If the stock manages to close below these levels then the stock can drift to the levels of around 1770 to 1780 from where the stock broke out after consolidation.

The stock is in strong uptrend. Practically no resistance is visible. Resistance for the stock lies in the zone of 1850 to 1860. If the stock manages to close above these levels then the stock can move to the levels of 1890 to 1900.

Broad range for the stock in the coming week can be 1780 to 1790 on lower side & 1850 to 1860 on upper side.