As of December 26, 2024, HDFC Bank's stock (HDFCBANK) closed at ₹1,798.10. The stock has been trading below its 52-week high of ₹1,880.00, reached on December 9, 2024.
Technical analysis indicates the following support and resistance levels:
Support Levels:
₹1,777 ₹1,763 ₹1,746 Resistance Levels:
₹1,808 ₹1,826 ₹1,840 These levels suggest that if the stock price declines, it may find support around ₹1,746 to ₹1,777. Conversely, upward movements may encounter resistance between ₹1,808 and ₹1,840.
Additionally, pivot point analysis provides the following levels:
Pivot: ₹1,802.83 Support 1 (S1): ₹1,735.72 Resistance 1 (R1): ₹1,838.62 These pivot points can serve as additional indicators for potential price movements.
It's important to note that trading volumes have been below the 50-day average, which may influence price volatility. For instance, on December 26, 2024, the trading volume was 5,240,839 shares.
Please remember that stock prices are influenced by various factors, and past performance does not guarantee future results. It's advisable to conduct thorough research or consult a financial advisor before making investment decisions.
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