I want to buy HDFC Bank as a long-term investment. My time horizon is 20 years. Where can I buy the stock?
HDFC Bank (₹1,603): The long-term outlook is bullish. The stock has just begun a fresh leg of rally. You can buy the stock at current levels. Accumulate on dips at ₹1,520 and ₹1,480. But considering the strong rise seen last week, the chances of getting a dip to accumulate is very less. Cluster of supports are seen in between ₹1,475 and ₹1,445. Below that ₹1400-1,375 and ₹1,300 are strong supports. For your time-frame of 20 years, it is very difficult to give a target. But in the short term, say over the next two-three months, HDFC Bank can rise to ₹1,850-1,870.
From a long-term perspective, HDFC Bank can target ₹2,100-2,150 over the next one-two years. So long-term investors can buy now and keep a stop-loss at ₹1,370. Trail the stop-loss up to ₹1,710 as soon as the stock moves up to ₹1,860. Move the stop-loss further up to ₹1,850 when the stock touches ₹1,980 on the upside. Exit the stock at ₹2,120.
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