hdfc bank share price zooms all time high on november 28 2024 gains 5 per cent in 5 sessions more upside likely target price share bse nse

HDFC Bank-the bluechip banal aft trading mostly successful the greenish implicit the past 1 week has galloped to a caller al-time precocious successful trading connected November 28. The crisp gains of astir 5.5 per cent successful past 5 sessions has taken the company's m-cap to Rs 14.01 lakh crore mark.

At the past number astatine the clip of penning this copy, shares of HDFC Bank traded higher by 1.25 per cent ot 22.7 points astatine Rs 1,833.7, portion its highest made contiguous was of Rs 1,836.05 per stock connected the BSE.

On the NSE, the banal made a caller beingness clip precocious of Rs 1,836.1 per share.

Commenting connected the stock's technicals, Jigar S. Patel- Sr. Manager- Equity Research astatine Anand Rathi said, "Historically, HDFCBANK has faced a beardown absorption portion astir the 1800–1790 levels, with the banal reversing from this portion connected 3–4 notable occasions. This repeated rejection establishes the portion arsenic a captious obstruction for upward momentum. 

However, connected the affirmative side, the daily RSI (Relative Strength Index) has consistently sustained supra 50 for the past 5–6 trading sessions, signalling a buildup of spot and underlying bullish momentum successful the stock. Additionally, the banal has successfully traded supra the R3 level of the Camarilla Pivot (1778), which present acts arsenic a support.

As we determination forward, the adjacent important absorption lies at R4 (1821.30). A decisive adjacent supra this level would bespeak a breakout from the humanities absorption zone, perchance triggering a robust upward move. This breakout could acceptable the signifier for a rally towards the 1900–1950 range, supported by the momentum seen successful RSI and the positioning supra cardinal pivot levels. For traders and investors, monitoring the stock's quality to adjacent supra 1821.30 volition beryllium important successful confirming the breakout and the consequent rally potential.