Housing Development Finance Corporation is engaged in financing by way of loans for the purchase or construction of residential houses, commercial real estate and certain other purposes, in India. The Company’s segments include loans, life insurance, general insurance, asset management and others. It offers insurance products, such as motor, health, travel, home and personal accident in the retail division, and customized products, such as property, marine, aviation and liability insurance in the corporate division. It also provides portfolio management, mutual fund, property investment management and project management services.

SHORT TERM PERSPECTIVE

Company HDFC
Recommendation Accumulate (Rs.2220-Rs.2225)
CMP Rs.2237.30
Stop Loss (SL) Rs.2135
Target Price Rs.2370- Rs.2400
Time Horizon 2-4 Weeks

 

Source: Capitaline Database, EWAL Research

Intermediate and long term trend is up in this stock. After a mild correction stock is trying to reverse from the previous breakout level which is placed around 2190 levels. Stock has developed short term base near to 200 day EMA and formed higher top higher bottom formation, which is a bullish pattern in nature. Increasing in volume and positive diversion from oscillator indicate that stock can move higher from current level so one can initiate accumulation between Rs.2220- Rs. 2225 with a stop loss of Rs. 2135 on (closing basis) and respected target seems Rs. 2370- Rs. 2400. Time frame should be 2-4 weeks.

 

 DISCLOSURE IN PURSUANCE OF SECTION 19 OF SEBI (RA) REGULATION 2014

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