Aditya Agarwal of Way2Wealth told CNBC-TV18, "Housing Development Finance Corporation (HDFC) is a trading call. It is trading in a band of 100 points for the last couple of months. On higher side Rs 865 is a resistance level. On lower side Rs 765 is the support area. Currently stock is trading on a higher trajectory, so, we are expecting that from these levels some profit booking can be there and the stock may come towards Rs 830-835 levels. So, at this level risk reward ratio is in the favour of the sellers.”
“At current levels one may go short keeping a stop loss at Rs 864 and on lower side you can expect target of Rs 830-835 in next three to four trading sessions," he added.
Disclosure: Analyst have given a call to his clients so they maybe having some positions but personally he doesn’t hold any of the positions.
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