HDFC AMC

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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.

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