HDFC Bank Outlook for the Week (Nov 09,2020 – Nov 13,2020


For the Week: (Nov 09,2020 – Nov 13,2020)

hdfc bank

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

HDFC Bank Share Price: 1307.65 (NSE)

HDFC Bank closed the Week on positive note gaining 10.40%

Weekly High: 1310

Weekly Low: 1177.50

Weekly Range: 132.50 Points

Weekly Support & Resistance For HDFC Bank:

RESISTANCE 2 1398
RESISTANCE 1 1353
SUPPORT 1 1220
SUPPORT 2 1132

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1220 levels, Minor resistance on the upside is capped around 1353levels.

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 @ 1132 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 @ 1398

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. . EquityPandit’s Predicts Range for the Weekly as 1398 on upside and 1132 on downside.

On daily chart we can see HDFC BANK share price are moving above Double Bottom pattern break out. White body appeared on the candle in daily chart. Move towards 1340 levels can be expected on upside.