November 20, 2012 / 15:35 IST
IIFL is bullish on Housing Development Finance Corporation (HDFC) and has recommended buy rating on the stock with a target of Rs 790 in its November 20, 2012 research report.
“HDFC is currently into the consolidation zone after prices peaked out at Rs800 last week. However as stock is into structural bull market, it is expected to form base near the support of its 50‐DMA following recent decline. Historically, the stock has bounced back from the 50‐DMA on multiple occasions in last five months. In coming days we expect stock to post smart recovery and head back towards Rs795. (Duration 6 days),” says IIFL research report.
FIIs holding more than 30% in Indian cos Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.To read the full report click on the attachment 
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