Synopsis
HDFC Bank’s stock hit a record high of Rs 1,791 on July 3rd following a strong June quarter business update, but then fell over 9% to Rs 1,624 by July 12th. The bank on 4th July said its gross advances registered 53% year-on-year growth at Rs 24.87 lakh crore in the first quarter. The same stood at Rs 16.3 lakh crore in the last-year quarter.
Private banking major HDFC Bank underwent some consolidation after hitting a record high in the first week of July but the chart pattern suggests that the stock might have formed a base.Short-term traders can look to buy the stock now for a target of Rs 1,800-1,900 in the next few weeks, suggested experts. Traders can look to buy the stock on dips in the range of 1,600-1,620, they advised.The bank hit a record high of Rs 1,791 on the BSE on 3rd
- FONT SIZE
AbcSmall
AbcMedium
AbcLarge
Uh-oh! This is an exclusive story available for selected readers only.
Worry not. Youβre just a step away.
Why ?
Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors
-
Stock analysis. Market Research. Industry Trends on 4000+ Stocks
-
Clean experience with
Minimal Ads -
Comment & Engage with ET Prime community -
Exclusive invites to Virtual Events with Industry Leaders -
A trusted team of Journalists & Analysts who can best filter signal from noise -
βGet 1 Year Complimentary Subscription of TOI+ worth Rs.799/-β
Source link
