New Delhi, Sept. 18 -- HDFC Bank shares are stuck in a narrow range for three months now, with the private lender's stock still trading close to levels since early June. On Thursday, HDFC Bank's share price closed the session at Rs.977.35, up 1% amid positive sentiments in the Indian stock market following a rate cut by the US Federal Reserve.

In absolute terms, HDFC Bank has given a 0.99% return in three months, even though the stock has jumped 10% year-to-date and 15% in the last one year.

Going ahead, the outlook for India's largest private lender remains strong - both in technical and fundamental terms.

On the daily chart, the stock is holding above its 200-day moving average, which indicates that the long-term trend remains intact...