Buy HDFC Bank for target of Rs 1260-1275: Arihant
According to Arihant Capital Markets, HDFC Bank has formed a falling wedge pattern on daily chart. One can buy the scrip for target of Rs 1260-1275.
By ET Bureau |
MUMBAI: According to Arihant Capital Markets, HDFC Bank has formed a falling wedge pattern on daily chart. One can buy the scrip for target of Rs 1260-1275.
The stock closed at Rs 1199.47 on Monday. It has made a 52 week low at Rs 774 and 52 week high of Rs 1600. The 14 days Moving Average of stock is at support of Rs 1089. On the daily charts, the stock is in buy in Stochastics and its 14-days RSI is currently at 67 (above 50 is consider to be in strong hands). HDFC Bank is looking good on daily chart as it has formed a Falling Wedge Pattern on daily chart. One can buy HDFC Bank at Rs 1199.40 with closing below stop loss of Rs 1165 for a target price of Rs 1260-1275,��� said Arihant Capital Markets note.
The stock closed at Rs 1199.47 on Monday. It has made a 52 week low at Rs 774 and 52 week high of Rs 1600. The 14 days Moving Average of stock is at support of Rs 1089. On the daily charts, the stock is in buy in Stochastics and its 14-days RSI is currently at 67 (above 50 is consider to be in strong hands). HDFC Bank is looking good on daily chart as it has formed a Falling Wedge Pattern on daily chart. One can buy HDFC Bank at Rs 1199.40 with closing below stop loss of Rs 1165 for a target price of Rs 1260-1275,��� said Arihant Capital Markets note.
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