Jul 22, 2013, 02.35 PM IST
According to Shardul Kulkarni of Angel Broking, one may go long on Housing Development Finance Corporation (HDFC) with a target of Rs 870-890 on the upside over the next six-eight trading sessions.
Shardul Kulkarni of Angel Broking told CNBC-TV18, "If one sees the chart structure of Housing Development Finance Corporation (HDFC) it is a very strong higher top higher bottom cycle on the weekly chart. The daily chart suggests a decent support near the Rs 800-810 mark. I think going forward it would be best to buy in strength even if one is looking just for a bounce."
"HDFC is the best stock in case of the entire financial space. I would want to go long in that counter. I would look at an upside target of around Rs 870-890 over the next six-eight trading sessions and the stop loss would be at Rs 788 on the lower side," he said.
The share touched its 52-week high Rs 931 and 52-week low Rs 675.45 on 30 May, 2013 and 26 July, 2012, respectively. Currently, it is trading 11.03 percent below its 52-week high and 22.64 percent above its 52-week low. Market capitalisation stands at Rs 128,736.48 crore.
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