Short-term trend in HDFC Bank remains bearish, says Sameet Chavan

If HDFC Bank stock slips below 1,370, we may see extended profit booking in this stock

Trading started on a flat note last week as there was no major trigger on the global as well as domestic front. The index, however, gradually resumed its upward trajectory to reclaim 13,000 first and then clocked fresh record highs as the week progressed. Index specific, there was no major movement but overall bias remained positive as we managed to add another couple of per cent to the previous weekly close.
 

There has been no stopping for this recent marathon rally and it's been more than one and half month now that markets are giving gravity defying moves. In the