From the date of 26/10/2023 to 01/11/2023 After taking support of order block @ 1460 #HDFCBANK take a u-turn as these were good level of accumulation from side big money institution from 1460 to 1663 it just take 40 day to share price of HDFC bank has traveled to 203 point. A return of 14% approx was made in that time period , now from these level HDFC bank share price may face stiff resistance of high short side order block which may pull prices to down side or may trade till 1681.
Financial
study
Latest Financial
Results:
· Q2 FY24 (July-September 2023):
o Net Profit: ₹15,976
crores, a 50% increase year-on-year (YoY)
o Total Income: ₹35,481
crores, a 22.3% increase YoY
o Net Interest Income: ₹20,294
crores, a 17.6% increase YoY
o Non-Interest Income: ₹15,187
crores, a 32.7% increase YoY
o Gross Non-Performing Assets (NPA): 1.10%
o Net NPA: 0.31%
Key Performance
Indicators (FY23):
· Net Profit: ₹40,565
crores, an 18.8% increase YoY
· Total Income: ₹1,34,114
crores, a 14.7% increase YoY
· Net Interest Income: ₹72,048
crores, a 14.4% increase YoY
· Non-Interest Income: ₹62,066
crores, a 15.5% increase YoY
· Gross Non-Performing Assets (NPA): 1.15%
· Net NPA: 0.34%
· Return on Equity (ROE): 16.9%
Financial Snapshot :
· Strong capital adequacy
ratio (CAR) of 21.3%
· Healthy deposit growth
of 16.3% YoY
· Robust loan growth of
16.4% YoY
· Improved asset quality
with declining NPAs
· Strong focus on digital
banking initiatives
· Diversified business
model with strong presence in retail, corporate, and investment
banking
Technical static
analysis
1. Moving Averages:
o 50-day SMA: 1,502.80 (upward
trend)
o 200-day SMA: 1,473.50 (upward
trend)
2. Relative Strength Index
(RSI): 49.9 (Neutral)
3. Moving Average
Convergence Divergence (MACD): 32.59
(Bullish)
4. Parabolic SAR: 1,587.20 (Mildly Bullish)
Chart patterns:
· Higher lows and higher highs on the daily chart: This indicates a potential uptrend.
· Doji formation on November 9: This could be a sign of indecision or a potential reversal.
· Breakout above the 200-day SMA: This is a bullish signal.
Overall, the technical
analysis suggests that HDFC Bank is in a bullish trend. The price is above both the 50-day and 200-day moving
averages, and the MACD indicator is positive. However, the RSI is neutral, and
the recent Doji formation suggests some potential for volatility.
Some key levels to
watch:
· Support levels: 1,502.80 (50-day
SMA), 1,487.20 (previous resistance), 1,473.50 (200-day SMA)
· Resistance levels: 1,587.20
(Parabolic SAR), 1,600.00 (round number), 1,625.00 (previous high)
!!!
Above post is not a recommendation for buy or sell , we are sharing our trading
notes for research !!!
Disclaimer: We are not SEBI registered Equity Research
Analysts nor Investment advisers and are expressing opinions only as
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