{"id":278513,"date":"2013-01-21T11:04:18","date_gmt":"2013-01-21T05:34:18","guid":{"rendered":"http:\/\/stockviz.biz\/index.php\/?p=278513"},"modified":"2013-01-21T11:10:52","modified_gmt":"2013-01-21T05:40:52","slug":"analysis-hdfcbank-hdb-4","status":"publish","type":"post","link":"https:\/\/stockviz.biz\/index.php\/2013\/01\/21\/analysis-hdfcbank-hdb-4\/","title":{"rendered":"Analysis: HDFCBANK (HDB)"},"content":{"rendered":"

Today\u2019s pick is HDFCBANK [stockquote]HDFCBANK[\/stockquote]. The stock has been on an up-move for most part of the year and it experienced the 52 weeks high of Rs. 700 in November. Since then the stock has been in a downward sloping flag formation. In the last three months, the stock has moved +4%<\/strong><\/b> vs. +7% of the Nifty\u2019s. <\/p>\n

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

Oscillators RSI<\/a> and CMO<\/a> are nearing the over-sold territory and are suggesting a short-term bullish<\/b> price action. The stock is close to the lower Bollinger band<\/a>, which is suggesting a bullish<\/b> move for the stock as well. <\/p>\n

The MACD<\/a> line and signal line are moving very close to each other unable to suggest any short-term direction. Long-term and short-term GMMA<\/a> lines are very close to each other and are not able to point at the direction of stock movement. <\/p>\n

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

<\/b> <\/p>\n

HDFCBANK\u2019s average correlation<\/a> with the Nifty<\/a> is 0.71 is positive<\/strong> and quite strong<\/strong>. The scrip will be closely replicating the movement of Nifty. [stockquote]NIFTYBEES[\/stockquote] <\/p>\n

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

HDFCBANK has a historical volatility<\/a> in the range of 1.0 to 4.0. The scrip\u2019s volatility however is currently in the lower end of the range and hence should not be a concern to the traders. <\/p>\n

Analysts have positive expectations regarding this stock. Less than expected earnings might hit the street expectations in the coming reviews and might impact the stock as well. <\/p>\n

Given these technicals, we suggest a short-term Hold. <\/b>A break-out of the flag in either direction will trigger a longer-term call. <\/p>\n

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