◉ HDFC Bank's Quarterly Update
HDFC Bank, the largest constituent of the Nifty 50 index, has released its quarterly performance update, highlighting a notable divergence in deposit and loan growth. Specifically, the bank reported a 15.8% year-on-year increase in deposits, significantly outpacing the 3% year-on-year growth in loans.
◉ A Cloud of Uncertainty
Experts believe this gap could negatively impact the bank's net interest margin, possibly reducing its net profit.
◉ Investors Take a Step Back
This news caused a stir in the market, leading to a 2.2% drop in the share price yesterday (Jan 06).
◉ Technical Observations
● The stock price has fallen below its trendline support and is currently trending downward.
● A minor support is anticipated around ₹1,700.
● If the stock price drops below this level, the next support is projected to be close to ₹1,600.
HDFC Bank, the largest constituent of the Nifty 50 index, has released its quarterly performance update, highlighting a notable divergence in deposit and loan growth. Specifically, the bank reported a 15.8% year-on-year increase in deposits, significantly outpacing the 3% year-on-year growth in loans.
◉ A Cloud of Uncertainty
Experts believe this gap could negatively impact the bank's net interest margin, possibly reducing its net profit.
◉ Investors Take a Step Back
This news caused a stir in the market, leading to a 2.2% drop in the share price yesterday (Jan 06).
◉ Technical Observations
● The stock price has fallen below its trendline support and is currently trending downward.
● A minor support is anticipated around ₹1,700.
● If the stock price drops below this level, the next support is projected to be close to ₹1,600.
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🌐 goodluckcapital.com
🎖️ SEBI registered INH300006582
🎖️ CMT(usa) & CFTe(usa) chartered
🎖️ NSE certified professionals
📈 Trading and Investment Advice
t.me/GoodluckCapital
🤝 Contact Us
bio.link/GoodluckCapital
🎖️ SEBI registered INH300006582
🎖️ CMT(usa) & CFTe(usa) chartered
🎖️ NSE certified professionals
📈 Trading and Investment Advice
t.me/GoodluckCapital
🤝 Contact Us
bio.link/GoodluckCapital
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.