HDFC Bank Outlook for the Week (Oct 12,2020 – Oct 16,2020)


For the Week: (Oct 12,2020 – Oct 16,2020)

HDFCBANK

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

HDFC Bank Share Price: 1233.55 (NSE)

HDFC Bank closed the Week on positive note gaining 11.43%

Weekly High: 1237.00

Weekly Low: 1111.00

Weekly Range: 126.00 Points

Weekly Support & Resistance For HDFC Bank:

RESISTANCE 2 1319
RESISTANCE 1 1277
SUPPORT 1 1150
SUPPORT 2 1067

 

Technically on the daily charts EquityPandit’s Analyst see: Minor support on the downside lies at 1150 levels, Minor resistance on the upside is capped around 1277 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 @ 1067 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 @ 1319

Stock is trading above 200 days exponential moving average, suggests long term trend is bullish. . EquityPandit’s Predicts Range for the Weekly as 1319 on upside and 1067 on downside.

On daily chart we can see HDFC BANK share price are sustaining above 1227 levels which is 1.618% of Fibonacci retracement . In short, HDFC BANK looks to be positive. Move towards 1259 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.