Stocks To Buy Or Sell: Nagaraj Shetti Of HDFC Securities Picks These Two Shares For Short-Term
HDFC Bank secured new business.
· NDTV Profit
This week's bearish trend has resulted in a record 8 weeks of consecutive declines in trot that was repeated after two decades, as per weekly timeframe chart.
The analysis
Against that, the stock is -1.5% on the day at ₹692.20, and has returned -14.6% over three months. It sits 31% below its 52-week high, which means a good deal of bad news was already in the price. The banks sector has moved -1.7% over the same period, so HDFC Bank is running 12.9 points behind its peers.
For HDFC Bank, the question is how much of this is already reflected in the price and how much re-rates the banks peer set alongside it.
Market context
- The company directly in focus is HDFCBANK.
- Sector exposure: Banks.
- The immediate tone of coverage reads negative.
In this story
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