Here's how HDFC Bank, HCL Tech, D-Mart look on charts post Q2 numbers

HCL Technologies and D-Mart need to make a decisive break above near term resistance levels for further up move, while HDFC Bank may rally up to Rs 2,000 provided it sustains above Rs 1,650-level

The on-going earnings season has been witnessing sharp reactions to stock prices basis on the Q2 earnings performance by the corporates. Here's a quick outlook on the stocks of select companies that announced the results over the weekend.

HDFC Bank Limited (HDFCBANK)

Outlook: Need to sustain above Rs 1,650

The stock recorded a new all-time high of Rs 1,725 on Monday and witnessed minor selling pressure. The overall trend is bullish with a major hurdle of Rs 1,650 being crossed recently. Going forward, sustainability above this hurdle may open the doors for Rs 2,000-mark, according to the daily and weekly chart. The medium-term outlook indicates support for the stock around Rs 1,600-level. CLICK HERE FOR THE CHART

HCL Technologies Limited (HCLTECH)

Outlook: Needs to decisively close above Rs 1,260

The shares of HCL Technologies Limited need to decisively close above Rs 1,260-level to regain the losing momentum. The nearest support for the stock exists at Rs 1,209, which is the 50-day moving average (DMA). Both the major indicators, Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have formed a negative crossover reflecting weakness in stock price and any further downside may inject more bearishness. CLICK HERE FOR THE CHART

 

Avenue Supermarts Limited (DMART)

Outlook: Needs to conquer Rs 5,600 with aggressive momentum

After the fabulous rally of over 25 per cent over the past week, the stock is seeing a minor profit booking/ selling pressure above Rs 5,600-level. This recent move had seen firm bullish momentum in the overbought category of RSI along with strong volumes, according to the daily chart. For the positive bias to continue, the stock needs to conquer Rs 5,600-level with aggressive momentum to rally further towards Rs 6,000-mark. CLICK HERE FOR THE CHART