The Housing Development Finance Corporation Limited or HDFC Ltd was among the first financial institutions in India to receive an “in principle” approval from the Reserve Bank of India (RBI) to set up a bank in the private sector. This was done as part of RBI’s policy for liberalisation of the Indian banking industry in 1994
Previous Close
1521.3
TTM EPS
71.8
52 Week High
1757.5
TTM PE
21.4
52 Week Low
1460.3
P/B
4.0
Sector PE
23.5
Mkt Cap (Rs. Cr.)
11,62,828
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
HDFC Bank ended last week on a positive note, reaching its five-week high above the 1530 levels.
However, the counter has underperformed the Bank Index this year, experiencing a decline of -4.27%. A potential pullback in the upcoming weeks might help bridge this performance gap.
Immediate support for the counter is anticipated around the 1480 levels, while a significant interim resistance is expected at around 1610 levels, where the possibility of “Selling Pressure” cannot be disregarded.
In summary, for the approaching week, looking for dips towards support levels could present opportunities for initiating fresh trading long strategies for the December series.
Open Interest Study
Expiry
CP
Strike
Open Interest
30 Nov 2023
CE
1500
10971
30 Nov 2023
PE
1500
7360
30 Nov 2023
CE
1600
6079
30 Nov 2023
CE
1550
5077
30 Nov 2023
PE
1400
5011
30 Nov 2023
CE
1520
4730
30 Nov 2023
CE
1540
4080
30 Nov 2023
PE
1470
2742
30 Nov 2023
PE
1520
2727
In the November series, HDFC Bank Options show the highest Call Option build-up at 1500 and 1600 Strike Rates, with the maximum Put Option build-up at 1500 and 1400 Strike Rates.
In general, the 1500 Strike Rates appear to be a battleground between Bulls and Bears. Dips towards the 1500 levels might present opportunities for initiating fresh hedged trading long strategies for December.
Hindustan Aeronautics Ltd (HAL) is an aerospace and defense company, owned by the government of India. The company develops, designs, manufactures, and supplies aircraft, helicopters, avionics, and communications equipment for military and civil markets.
Previous Close
2,146.3
TTM EPS
90.3
52 Week High
4,170.0
TTM PE
24.8
52 Week Low
1,767.8
P/B
6.4
Sector PE
34.6
Mkt Cap (Rs. Cr.)
149,825
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
HAL signaled a consolidation break-out above the 2100 levels in the second week of November 23. Following the consolidation, it showed a fresh upward movement last week.
Ending the week on a strong note, the counter demonstrated a more than 5% increase, suggesting the potential for further upward movement in the upcoming weeks.
Expectations point towards a rise to levels beyond 2400 in the next few weeks, with a “Buy-On-Dip” perspective recommended above 2080 in the short-term timeframe.
In the approaching week, any declines towards 2200 and below could offer a more favorable risk-reward ratio for attaining higher levels in the subsequent weeks
Open Interest
Expiry
CP
Strike
Open Interest
30 Nov 2023
CE
2250
1700
30 Nov 2023
PE
2100
1548
30 Nov 2023
CE
2300
1502
30 Nov 2023
PE
2150
1487
30 Nov 2023
CE
2400
1396
30 Nov 2023
PE
2000
1329
30 Nov 2023
CE
2100
1231
30 Nov 2023
CE
2500
1136
30 Nov 2023
PE
1900
1129
In the HAL Nov Option Chain, there’s a maximum Put Option build-up observed at the 2100 and 2150 Strikes, expected to serve as Support levels. Simultaneously, the maximum Call Option build-up is noted at the 2250 and 2300 Strikes.
Overall, the range between 2100 and 2300 appears to establish an initial trading band, suggesting a Buy-On-Dip perspective for the upcoming weeks.
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