I want to buy HDFC Bank as a long-term investment. My time horizon is 20 years. Where can I buy the stock?
Tarun Khanna
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.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.