Book profits in HDFC Bank , says Rajesh Agarwal, Head of Research at Eastern Financiers.
Agarwal told CNBC-TV18, "In HDFC Bank for short-term traders I would suggest booking out of profits because looking at fundamental appreciation from these levels is quite tough because it's already trading PE of around 25, despite our expectation that PAT would go up by 25-26%."
He further added, "We believe that the margins would be under pressure and 4% margins would be there. So I don't think there is much scope for appreciation in a very short-term maybe in the next 6-9 months one can get good valuation of around Rs 520-530 levels but if one is a short-term trader I would suggest booking profits."
