HDFCBANK - Technical Analysis

Last Updated Time : 02 Aug 25, 12:58 am

Technical Rating: 4.4

Here’s a detailed technical breakdown of HDFC Bank Ltd (HDFCBANK)

📊 Trend Analysis

Current Price: ₹2,022 is just below its 52-week high of ₹2,038, indicating strong bullish momentum.

DMA Positioning: Price is above both 50-DMA (₹1,967) and 200-DMA (₹1,836), confirming a firm uptrend.

RSI (58.9): In the bullish zone, but not yet overbought — suggests room for further upside.

MACD (12.0): Positive crossover, reinforcing short-term bullish sentiment.

Volume: Significantly above average, indicating strong institutional interest and accumulation.

📈 Chart Patterns & Indicators

Moving Averages

Price > 50-DMA and 200-DMA → Bullish

50-DMA > 200-DMA → Golden cross confirmation

Bollinger Bands: Price likely near the upper band, suggesting momentum breakout but also volatility risk.

Support Levels

Immediate support at ₹1,975–₹1,985 (recent swing lows)

Major support at ₹1,900–₹1,920 (trendline + psychological level)

Resistance Levels

Immediate resistance at ₹2,038 (52-week high)

Extended resistance at ₹2,100–₹2,150 (projected breakout zone)

🚦 Momentum Signals

Short-Term Signal: Bullish

Trend Status: Trending upward, with breakout potential

Volume Trend: Rising volume supports sustained rally

🎯 Entry & Exit Zones

Action Price Zone (₹) Rationale

Buy Zone 1,975–2,000 Near support, favorable setup

Breakout Buy Above 2,038 Confirmation of bullish continuation

Exit Zone 2,100–2,150 Resistance zone, profit booking

Stop Loss Below 1,950 Breach of key support

🧠 Final Take

HDFCBANK is in a strong uptrend, backed by bullish indicators and solid fundamentals (high ROE, strong PAT, rising EPS). While RSI is approaching overbought territory, the breakout above ₹2,038 could push the stock toward ₹2,150+. A short-term pullback may offer a better entry, but the overall trend remains bullish.

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