Buy HDFC Bank Ltd 1420PE For Target Rs.30 - Religare Broking
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Derivative Ideas
HDFCBANK shed 3.22% and closed at 1425.65 on 20th Dec. The Scrip is looking weak along its peers as BANKNIFTY underperformed NIFTY for quite some time now. However going forward, we expect the same to continue. We Recommend to go short in HDFCBANK until it trades above its Resistance that lies at 1470.
Strategy:- BUY HDFCBANK 1420 PE@14-16, SLOSS AT 7, TRGT 30.
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