In the last 24 months HDFC bank
has consistently outperformed the NIFTY
and in the last 18 months it's given better results that the BSE:BANK. In the short term the stock has shown side wards movement between 1150 and 1320 levels. Currently the price is in the whereabouts of 1200. The scrip has posted good quarterly results and CAGR
on sales and profits YoY are growing. The long term relative strength
benchmark shows that the stock is in bullish
terrain. The short term (3 month) MACD
is positive in indicating further correction is possible. However given the good fundamentals and positive long term trends this would be a good buy with the horizon of 3 to 5 years.