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Published on 13/04/2020 11:31:51 AM | Source: Motilal Oswal Financial Securities Ltd

Buy HDFC Ltd 2-3 Days SL 1620 Target 1870 CMP 1703 - Motilal Oswal

Posted in Broking Firm Views - Short Term Report| #HDFC Ltd. #NBFC #Trading Report #Motilal Oswal Financial Services Ltd

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Technical Trading Idea

* HDFC Ltd formed a Double Bottom pattern with support on daily chart and started rebounding from last couple of sessions. We also witnessed an Inverse Head & Shoulder pattern breakout on hourly chart, which is a positive sign for the counter. Momentum oscillator RSI also turned northward on both weekly and daily scale and thus showing short term strength in the stock.

* Considering overall chart structure, we advise traders to buy the stock for an up move towards 1870 with stop-loss of 1620.

Buy HDFC Ltd 2-3 Days  SL 1620 Target 1870 CMP 1703

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