|Buy Range||1962 – 1988|
|Target||2100 – 2200|
|Duration||15 – 20 Trading Sessions|
|Potential Return^||7 – 12%|
|CMP#||Idea||Buy Range||Target||StopLoss*||Duration||Potential Return^|
|1969.3||BUY||1962 – 1988||2100 – 2200||1905||15 – 20 Trading Sessions||7 – 12%|
# CMP on Oct 07, 2019
* Maintain recommended StopLoss by daily closing basis.
Once 1st target hit, reset StopLoss at 2035.
^ The returns are calculated based on CMP#
HDFC offers loans for the construction or purchase of the house, home improvement, plot buys and top-up loans to retail and corporate clients, loans for agriculture and dairy farmers, loans for NRI and commercial plots, education loan etc. The company also provides cross-selling products, investment advisory services, life insurance products, general insurance including motor, travel, home, health, accidental, mutual fund, venture funds, portfolio management, project consultancy etc.
|Sectoral Index||Financial Sevices|
TECHNICAL OBSERVATIONS (WEEKLY)
- The share price of HDFC witnessed a strong rally since 2016, rallying from ₹ 1010 to lifetime high of ₹ 2757.
- As we see in the Weekly chart, there is a steady support baseline which is moving upwards along with price rise. Current price is just above the support line.
- We expect the stock to remain in a rising trajectory and extend the up move towards 2100-2200in coming months.
TECHNICAL OBSERVATIONS (DAILY)
- On a daily chart, the stock has given a breakout of it’s falling trendline in which it had been trading for last eight trading sessions, suggest robust upside movement.
- The current closing is just above the long term support line. We may expect price to move up from here in the coming days.