Trading Idea: Should you buy HDFC Bank ahead of results?

HDFC Bank is expected to report 30% year-on-year growth in its net profit on back of 23% jump in net interest income (NII), says analysts.

HDFC Bank traded lower ahead of its Q4 (January-March) results due later today. The second largest private sector bank, is expected to report 30% year-on-year growth in its net profit on back of 23% jump in net interest income (NII), says analysts.

Check out the trading strategies for banking sector and other frontline stocks with Ravi Nathani, technical analyst at NSEToday.

Smartinvestor : What is your call on Bank Nifty and any range that you are targeting in near-term?

Ravi Nathani : We have a SELL on Bank Nifty with a target of 11,500. Also we are recommending investors to short banking stocks such as HDFC Bank and ICICI Bank as we expect meaningful correction in near term.

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