HDFC Bank can go upto Rs 640: Thukral

Hemant Thukral, National Head-Derivative Desk of Aditya Birla Money is of the view that HDFC Bank can go upto Rs 640.

Thukral told CNBC-TV18, “I expect the pullback to come in this side of the business i.e. Bank Nifty or the banking stocks. If you see what has happened on Friday, HDFC Bank has seen long built up happening - 5 percent OI has been added up. The premium moved up. HDFC Bank is trying to form a very strong bottom technically around that Rs 605-600 mark. Number of times it is taking support and rebounding from there. In immediate short-term, HDFC Bank should move up and help Nifty moving up. My target would be around Rs 640-645.”