Bank Stocks Outlook for the week – 07.10.2014 – 10.10.2014
( www.rupeedesk.in )
Bank stocks are expected to track the broad market and trade in a range-bound manner next
week. As the banking sector is directly impacted by the central bank's interest rate decision,
most bank stocks fell after the Reserve Bank of India, in its fourth bi-monthly monetary policy review on Tuesday, kept the policy rates unchanged citing inflation worries.
The Bank Nifty ended the week at 15316.20, falling nearly 2% for a second week in a row. We
expect that there will be some pressure from investors opting to book profits on rise next week, thereby capping the upside. According to technically the Bank Nifty will face resistance at15500 next week. A correction of 3-4% can be seen in the Bank Nifty if the support level of 15100 is breached.
The banking sector will continue to face pressure from the Supreme Court's ruling that has
cancelled all but four coal block allocations since 1993.
( www.rupeedesk.in )
Bank stocks are expected to track the broad market and trade in a range-bound manner next
week. As the banking sector is directly impacted by the central bank's interest rate decision,
most bank stocks fell after the Reserve Bank of India, in its fourth bi-monthly monetary policy review on Tuesday, kept the policy rates unchanged citing inflation worries.
The Bank Nifty ended the week at 15316.20, falling nearly 2% for a second week in a row. We
expect that there will be some pressure from investors opting to book profits on rise next week, thereby capping the upside. According to technically the Bank Nifty will face resistance at15500 next week. A correction of 3-4% can be seen in the Bank Nifty if the support level of 15100 is breached.
The banking sector will continue to face pressure from the Supreme Court's ruling that has
cancelled all but four coal block allocations since 1993.
