Tuesday 7 October 2008

Buy Kotak Mahindra, Axis Bank, HDFC Bank: Gujral

Technical Analyst, Ashwani Gujral is of the view that in the private sector bank one can buy Kotak Mahindra, Axis Bank and probably HDFC Bank.

Gujral told CNBC-TV18, "Kotak Mahindra Bank earlier found support around Rs 420 levels odd and it’s probably trying to have some sort of a relief rally. But needs to get pass Rs 578 before the downtrend in this stock is over. I think the only private sector bank that looks good is probably HDFC Bank, which hasn’t really fallen at all in this decline. But overall Axis Bank continues to maintain in a range of Rs 600 to about Rs 800. I do not think smaller banks are good idea to get into. So if you want to buy private sector banks Kotak Mahindra, Axis Bank and probably HDFC Bank would tend to do much better."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: MoneyControl

Posted by Harsh at 00:23

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