Friday 31 October 2008

Expect banking to outperform in one year: Lotus India

Ajay Bagga, CEO, Lotus India AMC is bullish on banks. "Indian banks will recover faster as they are strongly capitalised. Overall, the trend is positive for banks and over the next one year there should be a strong performance in terms of stock prices from the banking sector."

According to Bagga, the bounceback is welcome but not convincing.

E Matthew, Director, Matthew Easow Fiscal Services, feels the pullback rally should play on more because after a long time the markets are seeing a positive weekly closing.

"In the short- to medium-term the trend change can happen only if the Nifty is above 2,950 and ultimately stay above 3,050 for a couple of weeks. That would give a signal that the trend is changing at least for the short- to medium-term. The short-term pullback is not yet over, and through some short covering and maybe a lack of selling could hold towards the 3,250 zone hopefully in the coming two-weeks."

Source: Moneycontrol

Posted by Harsh at 13:08

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