HDFCBANK RESULTS MAY SHOW WEAKNESS

"BUY HDFCBANK FUT 2 LOT ABOVE  1435 TARGET 1443/1450 SL 1425

SELL HDFCBANK FUT 2 LOT BELOW 1400 TARGET 1385/1370 SL 1420"

Covid-19 continues to be the most important factor for the market at this juncture and we expect next week also market to remain volatile in the short term.All the commodity and economy-facing stocks could be under pressure due to the second wave of covid-19. Buying on dips is a better strategy at this time for the metal sector. Don't look for the next hdfc bank, icici bank and bajaj finance from the banking space. Bank nifty is down more than the broader indices. HDFC Bank, India’s largest private sector lender, is likely to report a 20% year-on-year rise in net profit to Rs 8,550.3 crore for the quarter ended March 31, HDFC Bank will report its quarterly and full-year earnings today. Markets expects HDFC Bank to report a gross non-performing loans ratio of 1.4 % for the quarter.

We can go with mindtree and cyient from midcap it space. We think infosys and hcl tech are better growth levers as compared to tcs and the valuations are cheaper. Pharma is a defensive sector in some ways. It doesn't get affected by lockdowns because if there are sick people who need medicine they will need medicines irrespective of the lockdown.we prefer eicher motors as a nice long-term play. Hero motocorp has lagged on product innovation. The core business is a cash cow, keeps on growing at a reasonable pace but it is not an exciting company. So, we are quite comfortable with our long-term positioning as far as healthcare stocks are concerned. We own divi's laboratories, dr. Lal path and abbott as well and neither are we thinking of increasing or reducing it based on what we are seeing around us.
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