HDFC Bank Limited offers a range of banking services covering commercial and investment banking on the wholesale side and transnational/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business. The Treasury segment primarily consists of net interest earnings from the Bank’s investment portfolio, money market borrowing and lending, gains or losses on investment operations and on account of trading in foreign exchange and derivative contracts. The Retail Banking segment serves retail customers through a branch network and other delivery channels, as well as through alternative delivery channels.
SHORT TERM PERSPECTIVE
| Company | HDFC Bank Limited(HDFCBANK) |
| Recommendation | Accumulate (Rs.1263.85) |
| CMP | Rs.1263.85 |
| Stop Loss (SL) | Rs.1220 |
| Target Price | Rs.1330 – Rs.1350 |
| Time Horizon | 2-4 Weeks |
Source: Capitaline Database, EWAL Research
Intermediate and long term trend is up in this stock, after a decent correction stock is trying to reverse from 50 Day EMA which has acted as a major support on daily chart, clearly chart is showing buying interest among the participant on every dip. A bullish RSI and MACD buy signals has emerged on daily chart, increasing in volume and positive divergence from oscillator indicate that stock can move higher from current level so one can initiate buy at CMP of Rs. 1263.85 with a stop loss of Rs. 1220 (on closing basis) for a target price of Rs. 1330 – Rs. 1350. Time frame should be 2-4 weeks.
DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014
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