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HDFC Ltd

* We’re seeing selective participation among the financial counters in the recent rebound and HDFC is also contributing to the move.

* It has been trading in a broadening formation and currently trading around the middle of the same.

* The recent base formation around the support term moving average i.e. 20 EMA is offering a fresh buying opportunity.

* We thus recommend creating fresh longs in the mentioned range.

Technical Chart : Daily

Buy HDFC Ltd CMP: 2718.75 Range: 2705-2715 SL: 2688 Target: 2760

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