Can I buy HDFC bank - How is the scope ?
Why I said perspective is, there is quite a possibility of one technical correction (not necessary it has to happen) once Nifty breaches 5100 for the second time since Jan 08 crash, to have a 'W' shaped move before the momentum picks up once again for a likely target of 5500 which is possible if the IIP continues to be robust and the estimates of 3rd Qr profits are on the higher side. HDFC Bank is a momentum stock which will move with the Sensex and Nifty. In such a scenario, it will breach 2000 with such a move. So, the chances of loosing are minimal unless unforseen circumstances force a retraction in the Index.
Alternatively, you can take a chance and wait and a technical correction should bring its prices close t ...more