HDFC Bank Outlook for the Week (Oct 05,2020 – Oct 09,2020)


For the Week: (Oct 05,2020 – Oct 09,2020)

HDFCBANK

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

HDFC Bank Share Price: 1106.95 (NSE)

HDFC Bank closed the Week on positive note gaining 6.02%

Weekly High: 1110.00

Weekly Low: 1042.65

Weekly Range: 67.35 Points

Weekly Support & Resistance For HDFC Bank:

RESISTANCE 2 1154
RESISTANCE 1 1130
SUPPORT 1 1062
SUPPORT 2 1018

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1062 levels, Minor resistance on the upside is capped around 1130 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 @ 1018 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 @ 1154

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. . EquityPandit’s Predicts Range for the Weekly as 1154 on upside and 1018 on downside.

On daily chart we can see HDFC BANK share price are sustaining above 61.8% of Fibonacci retracement level. In short, HDFC BANK looks to be positive. Move towards 1140 levels can be expected on upside. Positive Bias was made with the help of Bollinger band.
Positive Bias was made with the help of Bollinger band.