|Buy Range||2100 – 2140|
|Target||2220 – 2300|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||4 – 8%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|2137.45||BUY||2100 – 2140||2220 – 2300||2000||15 – 20 Trading Sessions||4 – 8%|
# CMP on Dec 20, 2018
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 2179.
^ The returns are calculated based on CMP#
HDFC Bank provides various banking and financial services to individuals and businesses in India, Hong Kong and Dubai. The bank covers commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. HDFC Bank has reported Net profit after tax of 5,005.73 Crore in the latest quarter.
|Sectoral Index||Nifty Bank|
TECHNICAL OBSERVATIONS (DAILY)
- Higher Tops and Higher Bottoms at Daily Charts.
- Last few days stock is trading above the 15 days MA and recent closing above the Upper Bollinger Band showing the confidence of my view.
- ADX and +DI crossing above 20 indicate buying momentum and probable further rise.
- The momentum oscillator RSI is also moving northwards in the daily chart and thus showing buying strength.