Buy HDFC Bank at current levels if you have a one-year plus time horizon: Sudip Bandyopadhyay

economictimes.indiatimes.com:

HDFC Bank at these levels to the investors who have one year plus time horizon, says Sudi«p Bandyopadhyay, Inditrade Capital. Edited excerpts:20000 seems to be in the bag. Where do we go from here on? 20,000 is definitely in the bag.

It is a matter of time before we hit that. There are a few setbacks because the corporate earnings have been, in some instances much-much below market expectations. There are certain concerns as far as US corporate earnings as well.

We saw that Tesla and Netflix earnings were much below what the market was expecting. So there is a little bit of caution, a little bit of profit booking, a little bit of consolidation near these all-time high levels Probably, it is a healthy thing. Having said that, I think if the monsoon continues and does not really disrupt the economic activities and also corporate earnings, corporate performance continues the way it is, by and large continuing, it should be positive for the markets and we will definitely see 20,000 levels maybe next week, maybe the week after, but it will come.

The question is, where do we go from here? Our belief is that the market will maintain a positive bias. The primary thing which is driving the market and will continue driving the market is ample liquidity which is coming to India both through FIIs and also domestic HNIs and retail investors. The way the markets and the economy are poised, this will continue.