This is not professional financial advice. Consulting a financial advisor about your particular circumstances is best.

Let's take a closer look at HDFC Bank's situation today. The stock has dropped by about 19% from its highest point.

Here are some things to consider:

Good Signs:

1. HDFC Bank achieved its highest-ever Quarter III revenue in December 2023, reaching Rs. 78,008 Crores.
2. Right now, the bank is in good shape and is India’s biggest private bank.
3. The current PE (Price to Earnings ratio) is at its lowest, standing at 15.8. HDFC Bank is recognised as India’s Largest Private Sector Bank and exhibits strong fundamentals.

Technical Details:

1. The current price of HDFC Bank stock is Rs. 1414.
2. It's been bouncing around between Rs. 1300 and Rs. 1750 for quite a while. If it goes above Rs. 1750, it might start going up more.

Why I am Bullish ?

1. Back in March 2020, when the stock was at Rs. 1414, it made Rs. 122,189 Crores in revenue. Now, the price is the same, but revenue has doubled to Rs. 251,764 Crores.
2. Even though the stock price is the same, the profit has doubled from year 2020 to 2024.
3. The government might make it easier for people to borrow money by reducing interest rates. That's good for HDFC Bank because more people might borrow from them.
4. India’s Per Capita Income is expected to rise, meaning people will have more money to borrow. This helps banks like HDFC.
5. Big investors have put a lot of money into HDFC Bank. They usually know how to make money in the stock market. They believe in HDFC Bank's potential for profits.
6. Some people are a bit worried because HDFC Bank reported a low NIM percentage. But this is temporary thing, and there's no need to stress about it.

A Few Things to Keep in Mind:

1. Don't put all your money into just one stock, like HDFC Bank. It's safer to invest a small part, like 5%, of your total investment in one stock.
2. In simple terms, even though HDFC Bank is making more money, the stock price hasn't gone up much. So, if you're thinking about investing, be smart and don't put all your eggs in one basket!

As of February 16, 2024, at 12:50 AM, HDFC Bank's current trading price is 1414.