HDFC Asset Management Company Ltd. is within an approximate horizontal trend channel in the medium long term, which indicates further development in the same direction. The stock has received a positive signal from the moving average indicator, thus signaling a continued rise. The stock has broken up through resistance at rupee 2300. This predicts a further rise.
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In case
of negative reactions, there will now be
support at rupee 2300. Positive volume
balance strengthens the stock in the short
term. The short term momentum of the
stock is strongly positive, with RSI above
70. This indicates increasing optimism
among investors and further price increase
for HDFC Asset Management Company
Ltd.. However, particularly for big stocks,
high RSI may be a sign that the stock is
overbought and that there is a chance of a
reaction downwards. The stock is overall
assessed as technically positive for the
medium long term.
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