Here’s a technical outlook of select stocks post Q1 results: -
HDFC Bank Ltd (HDFCBANK)
While HDFC Bank is succeeding to hold the breakout range of Rs 1,270 to Rs 1,260, witnessed in late November last year, the next up move requires to conquer the 100-weekly moving average (WMA) located at Rs 1,420-mark. The current trend appears to be sideways, as seen on the weekly chart. The breakout above 100-WMA could see bulls rallying to Rs 1,550 level. CLICK HERE FOR THE CHART
Shares of ACC require conquering the 200-day moving average (DMA) hurdle placed at Rs 2,179 with decisive volumes. When this happens, the breakout could offer jump towards Rs 2,300-mark, its next resistance, shows the daily chart. The support comes to Rs 2,100 levels. The Moving Average Convergence Divergence (MACD) has crossed the zero line upward, suggesting a positive momentum ahead. CLICK HERE FOR THE CHART
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