HDFC Bank stock outlook: Here's what the F&O data, technical charts suggest

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HDFC Bank stock outlook: Here's what the F&O data, technical charts suggest - Business Standard

Quick Summary:

Despite a near 5 per cent rally in HDFC Bank, the derivatives data shows tepid buildup in open interest; strong resistance likely in the Rs 1,820 - Rs 1,835 range this July.

Charts suggests that the bias for the stock is likely to remain bullish as long as the stock holds above Rs 1,700-mark on a weekly closing basis.

Against this background, here's a short-term outlook on HDFC Bank basis on the technical analysis and derivatives data.