Shares of HDFC Bank Ltd were trading higher in Wednesday's trade. The stock was up 1.13 percent, trading at Rs 1,443.05. At this pricing, it has risen 2.48 percent in the last month. Despite the reported increase, the stock has declined 15.15 percent year to date (YTD).

On the technical setup, support on the counter could be found at Rs 1,400. Additionally, immediate resistance may be encountered in the Rs 1,465-1,470 range.

"For HDFC Bank's stock, we are still maintaining a target price of Rs 2,000," Gaurang Shah, Senior Vice President at Geojit Financial, told Business Today TV.

"The stock was robust on daily charts and may reach Rs 1,465 in the short term. "Keep the stop loss at Rs 1,420," advised Ravi Singh, Senior Vice-President (Retail Research) at Religare Broking.

"Support will be at Rs 1,400, with resistance at Rs 1,470. A crucial close above Rs 1,470 may ignite further gains above Rs 1,500. Jigar S Patel, Senior Manager - Technical Research Analyst at Anand Rathi Shares and Stock Brokers, predicted a monthly trading range of Rs 1,400 to Rs 1,500.