HDFCBANK 1D Timeframe

Closing Price: ₹2,004.60

Opening Price: ₹2,018.80

Day’s High: ₹2,028.00

Day’s Low: ₹1,996.75

Net Change: –₹16.10 (–0.80%)

Trend: Mild Bearish

🔻 Support Levels
₹1,985 – Immediate support (20-day moving average)

₹1,950 – Short-term support (50-day moving average)

₹1,910 – Medium support (100-day moving average)

🔺 Resistance Levels
₹2,030 – Recent swing high and near-term resistance

₹2,050 – Breakout zone if momentum picks up

₹2,100 – Major resistance area

📈 Technical Indicators
RSI (Relative Strength Index): ~62
➤ In neutral to bullish territory, showing healthy momentum but close to overbought levels.

MACD (Moving Average Convergence Divergence):
➤ MACD line above Signal line – currently a bullish signal.

Volume:
➤ Normal trading volume; no heavy buying or panic selling.
➤ Indicates steady participation from both retail and institutional investors.

Candlestick Pattern:
➤ Small bearish candle after a strong bullish move earlier in the week.
➤ Indicates temporary profit booking or hesitation near resistance zone.

🧠 Market Sentiment
Overall sentiment remains positive for HDFC Bank due to:

Strong financials and balance sheet

Good loan growth reported in recent results

High investor confidence post bonus issue announcement

However, profit booking is likely near ₹2,030 as it is a psychological and technical resistance.

✅ Conclusion
Short-Term View: Mild pullback within an uptrend; no major weakness.

Medium-Term Trend: Still bullish as price remains above key moving averages.

Action to Watch:

A breakout above ₹2,030 may trigger a rally toward ₹2,050+.

A drop below ₹1,985 may invite short-term selling toward ₹1,950.