Stock of Interest

Posted On: August 4, 2023

Stock Report: HDFCBANK(NSE) 03 Aug 2023 

HDFC Bank Limited is India’s largest private sector bank in terms of assets, and as of July 2023, it became the world’s fourth-largest bank by market capitalization after taking over its parent company, HDFC. The bank, headquartered in Mumbai, was founded in August 1994 and is led by CEO Sashidhar Jagdishan since October 2020. With a workforce of 177,000 employees as of July 2023, HDFC Bank provides a range of banking and financial services. Its subsidiaries include Housing Development Finance Corporation and MORE. As of 4th August 2023, the stock price of HDFCBANK on NSE was ₹1,646.75, with a 1.11% increase.

#xCalData predicts that #HDFCBANK will continue its bearish phase over the next five days and trend within the range of 1656 to 1558. 

In comparison to the previous month, the price of the stock has experienced a decline of 5.76% indicating a bearish.

The Stock has doubled once since 06 Jan 2015 and took an average of 3.0 years to double.

The stock has shown seasonality trend in the past. 

Reviewing the returns for the past 4 years for the same week, we see the stock has given positive returns in 4 years in the past. 

Majority of the technical ratios trend towards Bearish side of the spectrum. Trendline Indicates Bullish Trend. 

Collectively, xCalData suggests the stock would be in Bearish zone for next 5 days. 

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