PL Technical Research: Buy HDFC BANK - Medium Term Tech Pick

PL Technical Research: Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt.

BUY HDFC BANK CMP: 1580 TRGT: 1750 SL: 1530 - MEDIUM TERM TECH PICK - The stock has been in consolidation near the 1550-1600 zone maintaining the support of 1560 and currently with some improvement in the bias is anticipated for further rise in the coming days. The RSI is well placed recently reversing from the oversold zone anticipating for upside movement. With the chart looking good, we suggest to buy and accumulate the stock for an upside target of 1750 keeping the stop loss at 1530.