Here's why Mehul Kothari recommends buying HDFC Bank, Sunteck

According to the technical analyst from Anand Rathi, HDFC Bank is trading near multiple support area, hence the probability of the stock resuming its uptrend is high.

BUY HDFCBANK

Target: Rs 1,625

Stop Loss: Rs 1,450

After the recent correction, HDFC BANK is hovering near the 61.8 per cent retracement level of the entire rally which started from Rs 1,400 to Rs 1,700. This support coincides with the gap area formed due to the merger news. Also the support zone is also the placement of Kijun from Ichimoku indicator. Hence there is a high probability that the stock might resume its uptrend. Thus, short term traders are advised to buy the stock in the range of Rs 1,515 - Rs 1,505 with a stop loss of Rs 1,450 for an