Technical Stock Idea - Buy Housing Development Finance Corporation Ltd For Target Rs.3000 - Monarch Networth Capital
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Housing Development Finance Corporation
Stock had made multiple bottoms near 2350 level on the weekly chart since Jan 2021. It went below this level last week but there was a strong buying interest at lower level and it recovered sharply.
It has closed with hammer candlestick formation along with strong volumes. Momentum indicator Stochastics has also given positive crossover on the weekly chart which indicates continuation of positive momentum.
Recommendation is to Buy above 2451 keeping Stop loss at 2190 level and Target at 2750-3000 levels.
Daily Chart:
Buy : Housing Development Finance Corporation : CMP: 2424 SL: 2190 TARGET :-3000 TIMEFRAME: 4-6 MONTHS
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