Aditya Agarwal of Way2Wealth.com told CNBC-TV18, "HDFC is looking bullish. It is trading in a band of Rs 815 and Rs 775 for last couple of weeks. The stock is currently trading around its upper band which is Rs 815. We are seeing some long positions getting created in HDFC. At the same time we are seeing options buying also in HDFC. So, we are expecting that this time stock will break its resistance level of Rs 815 and once Rs 815 is broken we can expect Rs 845 as the next target in the stock. Overall view on HDFC is bullish. We are expecting the stock may see some 3-4 percent rally if it breaks Rs 815. With a stoploss of Rs 800 one can go long in HDFC with a target of Rs 845."
"We are continuously seeing selling pressure on higher levels in IDFC. Last week initially the stock saw some bounce back but it failed to sustain and it even broke Rs 100 level also. So, overall view on IDFC is still negative. Any bounce towards Rs 107-108 it can again be used to make short positions. On lower side we can expect this stock to test Rs 95-90 levels," he said.
Disclosure: He does not hold any positions in the stocks.
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