HDFCBANK : Re-entry for about 1.25% of the net capital

29 Jan

I re-entered when the price retraced back to the low of the descending channel. From the current levels, a move of about 20% to the upper trendline of the higher time frame (HTF) parallel channel is expected. The current position size is about 1.25% of the net capital.

I will add to the position to sum up the total holding to 2.5% of the net capital if the price crashes to the lower trendline of the HTF parallel channel.

The current crash was mainly due to the results not meeting the street's expectations. But since there is no degrowth or any other factors affecting the long-term growth prospects of the company, this is just an overreaction by the market and will recover with time.

Previous posts regarding the same scrip is attached underneath.