HDFC Bank hits new high, how much more can the stock rally? Find out here

Technically, the stock is placed above key moving averages, backed by a favourable price-to-moving averages action on the daily chart. On the upside, the stock can potentially zoom to ₹ 2,100 levels.

HDFC Bank stock hit a new all-time high at ₹ 1,883.80 in intra-day trades on Wednesday, after over 4 months, as the private sector bank extended its rally into the third trading session. The stock last recorded a peak at ₹ 1,880 on December 9, 2024.  In the last three trading sessions, the stock has rallied 6.7 per cent. In comparison, the NSE benchmark, the Nifty 50 index has rallied 4.2 per cent, and a 5 per cent rally in the Bank Nifty.  Technically, HDFC Bank stock is seen trading above its key moving averages on the daily chart. The price-to-moving averages action is also favourable with shorter-term moving averages placed above the longer-term moving averages.  On the fundamental part, the recent gains at the HDFC Bank counter were attributed to hopes of improved margins after the Reserve Bank of India (RBI) recently lowered interest rates by another 25 basis points. The bank is scheduled to announce its Q4 results on Saturday, April 19, 2025.  As such, can the stock extend the rally or will it take a breather? Here are the key support and resistance levels to track on the HDFC Bank stock.  HDFC Bank  Current Price: ₹ 1,870  Upside Potential: 12.3%  Support: ₹ 1,800; ₹ 1,750  Resistance: ₹ 1,910; ₹ 1,973; ₹ 2,035  HDFC Bank is likely to trade with a positive bias in the near-term as long as the stock trades above ₹ 1,800 levels; below which support for the stock exists around the 50-day Daily Moving Average (50-DMA) at ₹ 1,750 levels. CLICK HERE FOR THE CHART  On the upside, the stock has near resistance around ₹ 1,895 - ₹ 1,910 levels; above which the stock can potentially rally to ₹ 2,100 levels. On its way up, the stock may counter resistance around ₹ 1,973 and ₹ 2,035 levels.    In the earlier price correction in January 2025, the stock dipped and took support around its 50-Weekly Moving Average (50-WMA) - a key technical indicator the stock has respected since the breakout in June 2024. The 50-WMA now stands at ₹ 1,683 levels.