HDFC may touch Rs 1240-1245: Kunal Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, "Housing Development Finance Corporation (HDFC) is looking good. From a short-term perspective the fact that today’s opening or yesterday’s closing was itself a fresh swing high, Rs 1,220 was the previous resistance for HDFC. Looking at the momentum for the markets and the way the structures are built, I feel that the next swing high for many of these stocks like HDFC, State Bank of India (SBI), etc should be taken out and from a two to three day perspective I believe Rs 1,240 or Rs 1,245 could be the target for HDFC."

 

Housing Development Finance Corporation ended at Rs 1,198.25, down Rs 16.45, or 1.35 percent on the BSE.