Bank Stocks Outlook for the week – 11 to 14.08.2014
( www.rupeedesk.in )
Bank stocks are likely to trade with negative bias next week in line with the broad
market. Broader market indices are seen trading with negative bias amidst rising
geopolitical tensions in West Asia and Russia. Going ahead, geopolitical tensions would
continue to be in limelight, we believe.
Investors are advised to utilise the opportunity to buy into quality stocks with strong
management pedigree. Bank stocks may also take cues from the Consumer Price Indexbased
inflation data for July, and Index of Industrial Production data for June, both of
which will be detailed on Tuesday.
Among specific banks, Dena Bank will be in focus on Monday as the state-owned lender
will detail its Apr-Jun results on Saturday. Next week, Punjab & Sind Bank, Jammu &
Kashmir Bank Ltd, Dhanlaxmi Bank Ltd, and United Bank Of India will also be in focus
ahead of the first quarter results.
As long as the Bank Nifty holds the 14500-level, it is in a comfortable zone. However, if
the index slips below 14500 points, a sharp fall is likely. We are expecting Bank Nifty to face resistance at 15200 points.
