Stock of the day : Buy HDFC Bank Ltd For Target Rs.45 - Religare Broking Ltd
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HDFC Bank Ltd
* HDFC Bank has been declining consistently, after the failed attempt to surpass the resistance zone of 1750 mark.
* It has recently breached the support zone of its long term moving average i.e 200 DEMA at 1600 levels and inching lower.
* The stock has been trading below all its key moving averages suggests weakness in price trend.
* We thus recommend creating short positions through the Put option.
Buy HDFC Bank Ltd CMP 25.50; Range 24-26; SL 15; Target 45
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