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HDFC Bank might have underperformed the benchmark index so far in 2022, but chart patterns suggest that momentum is likely to sustain in the near term that could take the stock above Rs 1,500 levels in the next 7-8 weeks.
The private sector lender fell nearly 4 per cent so far in 2022 compared with over 6 per cent rise seen in the S&P BSE Bankex in the same period. However, the stock rose over 3 per cent in a week and nearly 5 per cent in a
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