All the banks, in fact the whole
market is in an uptrend. The kind of up move we have witnessed on Friday, was
not only amazing but was convincing also. So there is no need of guessing and
predicting but “ following ” is a better strategy. HDFCBANK has given a close
of 766.25. And made a high of 769.60. One can definitely initiate
a long
position above 770 and can accumulate on every dip till 745. The targets are
like 800 and 830 in a few days / week’s time. A strict Stop Loss must be
maintained at 730 on closing basis and please note that even this stock is for
positional traders only. Intra day traders may not find it suitable. As we are
nearing and approaching a great event of election result week, needless to say
that a Stop Loss is a life saving tool. On achieving of targets, brave heart
traders can trail the Stop Loss and ride the rally rest can book the profits
periodically.
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