HDFC Bank rose 1.05% to Rs 1,356.25, amid some bit of bargain buying.
The stock had declined 19% in the past nine sessions to end at Rs 1,342.20 yesterday, from its recent closing high of Rs 1,656.80 recorded on 04 April 2022.
On the technical front, the scrip's RSI (relative strength index) stood at 36.834. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.
The stock was trading below its 50-day, 100-day and 200-day moving average (DMA) placed at 1462.87, 1483.19, and 1516.78, respectively.
HDFC Bank is private sector lender. As of 31 March 2022, its distribution network was at 6,342 branches and 18,130 ATMs / Cash Deposit & Withdrawal Machines (CDMs) across 3,188 cities / towns as against 5,608 branches and 16,087 ATMs I CDMs across 2,902 cities/ towns as of 31 March 2021.
The private lender's net profit rose 22.83% to Rs 10,055.18 crore on 8.07% increase in total income to Rs 41,085.78 crore in Q4 March 2022 over Q4 March 2021.
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