I had bought HDFC AMC at Rs 1425 considering it to have bottomed out. Now what to do? - Tushar Yeole
AVERAGE HDFC AMC AT CURRENT LEVELS
HDFC AMC is currently trading at Rs 1345.20. Its 52-week high/low stand at Rs 1969.50/ Rs 1248.30 made on August 27, 2018 and September 21, 2018, respectively. After hitting 52-week low, the stock hit a hammer-like pattern, but saw a whipsaw after three trading sessions and retreated again. The stock was seen consolidating at the 52-week low levels, where it hit near Rs 1250 level twice. With this, we may see a triple bottom pattern in the making. Recently, on October 10, the stock broke its consolidation and hit above Rs 1322 level on a closing basis with rising volumes and 14-period positive crossover in the oversold zone just a day earlier. We suggest you to average at the current levels for some more upside.