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HDFC AMC Technical Analysis #77: Buy | Target Rs 2230 | Arijit Banerjee

OUR RECOMMENDATION

CMP#2055.8
IdeaBUY
Buy Range2050 – 2100
Target2230 – 2260
StopLoss*2010
Duration12 – 15 Trading Sessions
Potential Return^8 – 10%
CMP#IdeaBuy RangeTargetStopLoss*DurationPotential Return^
2055.8BUY2050 – 21002230 – 2260201012 – 15 Trading Sessions8 – 10%

# CMP on Aug 05, 2019
* Maintain recommended StopLoss by daily closing basis.
   Once 1st target hit, reset StopLoss at 2143.
^ The returns are calculated based on CMP#

COMPANY OVERVIEW

HDFC Asset Management Company manages equity, fixed income and balanced mutual fund for all its clients and invests public equity and fixed income markets. The products of the company include equity growth fund, liquid funds, fixed maturity plan, exchange traded funds, dual advantage fund, and cancer cure fund. It also manages hedge funds for its clients.

Stock Data
NSE CodeHDFCAMC
Sectoral IndexFinancial Services
52W High2370
52W Low1250
Face Value5
Relative Performance_HDFC AMC vs Nifty Financial

TECHNICAL OBSERVATIONS (DAILY)

  • HDFC AMC has taken support several times on trendline which is moving higher.
  • The trendline is acting as strong support since March 2019.
  • Today’s close is just above the trendline. The price action indicating an opportunity for a BUY trade from here which can be a low risk-high reward trading strategy.
HDFC AMC Daily Chart
HDFC AMC Daily Chart
5/5

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable not to enter/exit beyond the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other technical recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

ANALYST SUMMARY

This research analysis is prepared by Arijit Banerjee, CMT, CFTe. An engineering graduate developed an early interest in Trading since the age of 20. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the leading global authority of Technical Analysis and also has been honoured by Certified Financial Technician (CFTe) from the International Federation of Technical Analysts (IFTA), USA. His contribution to the market research was recognized by SEBI, the Regulatory Body of Indian financial market and given him the registration number INH300006582 as a Research Analyst. Over the years, he has gained experience in Technical Analysis with a demonstrated history of working in different asset classes. Himself as a trader, he has trained and continues training novice and experienced traders to become successful, confident and profitable in the financial market.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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