{"id":232786,"date":"2012-11-12T11:53:15","date_gmt":"2012-11-12T06:23:15","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=232786"},"modified":"2012-11-12T11:53:16","modified_gmt":"2012-11-12T06:23:16","slug":"analysis-hdfcbank-hdb","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2012\/11\/12\/analysis-hdfcbank-hdb\/","title":{"rendered":"Analysis: HDFCBANK (HDB)"},"content":{"rendered":"

Today\u2019s pick is [stockquote]HDFCBANK[\/stockquote]. The stock has been in an up-trend since lows of last December. However, the last one and a half month has seen a range bound movement for the stock. In the last three month period, the stock was up 7% same as that of Nifty\u2019s return. The stock is currently trading around its 52-week high at 645 levels. <\/p>\n

\"image\"<\/a> <\/p>\n

Oscillators RSI<\/a> and CMO<\/a> are at currently at 58 and 22 are hovering around the over-bought territory but are not suggesting any direction. <\/p>\n

MACD<\/a> line and the signal line are moving very close to each other since a long time and are not suggesting any trend. The short-term technicals are looking pretty good: both the 4×9 Cross-Over and 4×18 Cross-Over are bullish. <\/p>\n

The GMMA<\/a> chart shows that long-term lines are parallel to each other which is a bullish sign for the stock. The short-term lines are entangled because of the last months range bound movement. <\/p>\n

\"image\"<\/a> <\/p>\n

HDFCBANK\u2019s average correlation<\/a> of 0.73 with the Nifty<\/a> is positive and quite strong. The stock will replicate the movements of Nifty closely because of the high co-efficient. [stockquote]NIFTYBEES[\/stockquote] <\/p>\n

\"image\"<\/a> <\/p>\n

HDFCBANK has a historical volatility<\/a> in the range of 0.4 to 4 which is a very big range. The scrip\u2019s volatility is currently in the lower side of the range and hence should not be a concern. <\/p>\n

Analysts have mixed expectations regarding this stock. Next set of earnings can help bring a different picture on the charts. Also, the magnitude of buys and sells from insiders crossed each other out. <\/p>\n

Looking at these technicals a short-term buy <\/b>is suggested. A break-out of the pennant in either direction will trigger a longer-term call. <\/p>\n

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