Buy HDFC Asset Management Company, target Rs 1,690: Rajesh Bhosale

Rajesh Bhosale of Angel Broking has a buy call on HDFC Asset Management Company with a target price of Rs 1,690.

The current market price of HDFC Asset Management Company is Rs 1,580.05.

Time period given by the analyst is two weeks when HDFC Asset Management Company price can reach the defined target.


Rajesh Bhosale recommended keeping a stop loss at Rs 1,520.

"On the daily chart, stock prices have confirmed a bullish reversal pattern breakout known as ‘Rounding Bottom’. In addition, prices have also marked ‘Higher Top Higher Bottom’ a bullish price cycle. Prices are trading well above major moving averages and we are witnessing fresh buy signal by ‘Parabolic SAR’. Going by all the above technical evidence we sense a strong northward move in the near term," said Bhosale.

HDFC Asset Management Company, incorporated in the year 1999, is a large cap company (having a market cap of Rs 33,569.56 crore) operating in the finance sector.