Monday 3 November 2008

Bank of India looks good in PSU banks: Bose

Technical Analyst, Rajat K Bose is of the view that among PSU banks, Bank of India looks pretty good.

Bose told CNBC-TV18, "My favourites are HDFC Bank and Axis Bank. These bank stocks have got good momentum. Axis if it maintains above Rs 591 although now it is above Rs 600 then atleast one can get 5-10% move even during the day itself."

He further added, "If HDFC bank maintains above Rs 1,104 then one can expect further upswing otherwise say between Rs 1,100 to Rs 1,105 there would be some resistance, some profit taking maybe possible. One can look at Bank of India among the PSU banks that look pretty good."

"So instead of opening short position, I would rather play long and chances are that today we would actually have a up day and close will also be pretty high."

Dislcosure: It is safe to assume that analyst and his clients may have an investment interest in the stocks/sectors discussed.

Source: Moneycontrol

Posted by Harsh at 07:01

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.