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Price and trend forecast of HDFCBANK for Tomorrow, Weekly, Monthly

HDFC Bank Limited

Symbol: NSE:HDFCBANK

ISIN: INE040A01034

1,580.75

As on 2024-06-13

1,363.55 (52W Low) 1,757.50 (52W High)

HDFCBANK's Today's Performance

HDFC Bank Limited started the day by opening at 1,581.75 today 2024-06-13. Its shares reached a high of 1,585.70 and dipped to a low of 1,574.00 in intraday. When the markets closed, HDFCBANK’s stock price settled at ₹1,580.75 per share. Also check out its key support and resistance levels.

HDFCBANK Buy/Sell Targets

Tomorrow, buy HDFCBANK when its price reaches ₹ 1,580.75 with a stop-loss order at ₹ 1,572.02. You can set the target price as ₹ 1,589.48 to capture potential gains. This buy position balances the risks and rewards evenly, aiming for a 1:1 risk-reward ratio.

In the sections below, we will discuss detailed share price target of HDFCBANK for tomorrow's session along with weekly levels. Please note that these share targets analysis is only valid for tomorrow and the current trading week and month.

Important Down levels for HDFCBANK

Downside Targets Value in ₹
Tomorrow Down Target 1 1,586
Tomorrow Down Target 2 1,592
Tomorrow Down Target 3 1,598

Important Levels for HDFCBANK

Holding Levels Value in ₹
Tomorrow Up Target 1 1,575
Tomorrow Up Target 2 1,568
Tomorrow Up Target 3 1,563
Based on where the stock opens tomorrow, if HDFCBANK opens on a positive note, our first target will be ₹1,586. If Target 1 is achieved, we will aim for Target 2 which is ₹1,592.

But if HDFCBANK falls below the average value of ₹1,580.15, you can enter a sell side position with target number 1 - ₹1,575 and second target - ₹1,568 This average value also act as support and resistance level. When the stock is trading above the average, it will act like support area. Another important thing is, stocks usually get back to this average value when the price trades too far from avg. In simpler words we can consider the average price as a magnet.

Daily Volume chart of HDFCBANK

Looking at HDFCBANK, we've seen a Decreasing trend in its trading volume over the past week, which really tells us how active traders have been with this stock.

In terms of its price, HDFCBANK has been on a Upward path, giving us insights how its value changes in the market.

Based on this, the predicted sentiment for HDFCBANK is moderate bullish.

Tomorrow's Volume based share price Forecast for HDFCBANK

HDFCBANK's Volume is currently in a Decreasing trend, and Price is in a Upward direction. Therefore, we can say the stock is in a moderate bullish trend. Volume trend strength over the last month compared to the last week is -32%.

Reversal detection for HDFCBANK

Predicted trend chart of HDFCBANK tomorrow for price forecast
HDFCBANK may trend may continue to be bullish since stock is making higher highs and we can get target of ₹1576 in morning tomorrow
Target 1 tomorrow1585
Target 2 tomorrow1587
Target 3 tomorrow1592
 

Investferry’s trend analysis method detects short term overbought and oversold situations to identify reversal in stocks. Use this as reference for short term counter trend trades.

Combine this trend forecast with HDFCBANK's tomorrow's target prediction and you will have a base for what can be done in the upcoming trading session.

Based on where the stock opens tomorrow, if HDFCBANK opens on a positive note, our first target will be ₹1,586.30. If Target 1 is achieved, we will aim for Target 2 which is ₹1,591.85.

But if HDFCBANK falls below the average value of ₹1,580.15, you can enter a sell side position with target number 1 - ₹1,574.60 and second target - ₹1,568.45

HDFCBANK's Weekly Targets
1st Up Target 1,595.30
2nd Up Target 1,609.85
1st Down Target 1,559.20
2nd Down Target 1,537.65

As the week for HDFCBANK ended on bullish sentiments, we can expect further continuation of this sentiment. HDFCBANK's initial target will be 1,595.30 for the coming week if it continues to trade higher. But if it fails, we can see lower targets of 1,559.20 in the upcoming week.

Weekly OHLC Values
Open 1,574.00
High 1,588.30
Low 1,552.20
Close 1,580.75

Week for HDFCBANK started with an open price of 1,574.00, and the close was at 1,580.75. HDFCBANK reached the highest of 1,588.30 and dipped lowest up to 1,552.20 last week. This indicates a bullish sentiment for the week.

HDFCBANK full month swing targets
Monthly Up Target 1 1,631.40
Monthly Up Target 2 1,645.95
Monthly Down Target 1 1,523.10
Monthly Down Target 2 1,465.45

Targets of ₹1,631.40 can be expected to be reached in the coming month. Once HDFCBANK achieved this target, we can aim for the next upside target of ₹1,645.95.

HDFCBANK if fails to hold upside, down targets of ₹1,523.10 and ₹1,465.45 can be achieved by end of this month.

For complete three weeks if HDFCBANK is bullish, the stock may decline in the last week on the month as traders usually close their positions. So in this case, you should aim for weekly support level which will act as targets here.

Related Stocks in the Same Sector as HDFCBANK

Symbol Name Industry
HDFCBANK HDFC Bank Limited Banks - Regional
ICICIBANK ICICI Bank Limited Banks - Regional
SBIN State Bank of India Banks - Regional
LICI Life Insurance Corporation Of India Insurance - Life
BAJFINANCE Bajaj Finance Limited Credit Services

Summary

HDFCBANK is expected to reach the target of 1,586.30 in tomorrow's trading session.

After achieving the initial target in HDFCBANK, we will aim for higher targets of 1,591.85 tomorrow.

However, if HDFCBANK starts to trade below ₹1,580.15, then we will shift our focus to the sell side and aim for down targets of 1,574.60 and 1,568.45.