HDFC BANK LTD-ADR (HDB) Stock Technical Analysis
NYSE:HDB - New York Stock Exchange, Inc. - US40415F1012 - ADR - Currency: USD
Overall HDB gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, HDB is showing a nice and steady performance.
HDB has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 74.16, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for HDB in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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58.86
2 important support areas can be observed.
- A support zone ranging from 72.72 to 74.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 59.45 to 60.44. This zone is formed by a combination of multiple trend lines in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 76.87 to 77.48. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for HDB is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for HDB is up. |
| ChartMill Relative Strength | 73.09 | POSITIVE | HDB has a high relative strength, it outperformed 73.09% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of HDB is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of HDB is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of HDB is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.72 | NEUTRAL | The RSI value for HDB is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.01 | NEGATIVE | The MACD value suggests HDB has a negative trend. |
| Stochastics (14,3) | 65.63 | NEUTRAL | The Stochastics value for HDB is a neutral value. |
| Average True Range in percent/ATR (20) | 1.6 | LOW VOLATILITY | The low ATR as a percentage value for HDB suggests low volalility. |
| Average Directional Index/ADX (14) | 23.38 | NEUTRAL | The ADX value for HDB suggests a possible start of a new trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 77.49 | 73.53 | 3.96 (5.11%) | 19.57% |
| An entry @77.49. This is a Buy Stop order right above the resistance zone. | An exit @73.53. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 3.96 points, which is 5.11%. | For a 1.00% total portfolio risk, you can invest 19.57% of your capital in this trade. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
76.54
+0.36 (+0.47%)