HDFC shares: STraTegy for proFit

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Mortgage lender HDFC Ltd plans to raise up to Rs 5,000 crore by issuing bonds on private placement basis to meet its business requirements.
Mortgage lender HDFC Ltd

Indian market opened flat today on rising India-China border tension and directionless global clues.

The stock market is expected to be highly volatile in the coming days as border tension has added major worry in investor’s minds who are already are troubled by COVID-19 pandemic.

STraTegy for proFit

HDFC ltd stock is trading in range of 1708 – 1846 since beginning of June. On chart it is looking overbought on stochastic and divergence is formed between price and OBV.

stock is expected to witness correction and one can sell it near 1830 -1840 with price target of 1765 and stop loss of 1860.

Photo credit: TradingView

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