Bank Stocks Outlook for the week – 17 to 21.10.2016

Bank Stocks Outlook for the week – 17 to 21.10.2016 )

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Bank stocks are seen tracking the broad market next week in the absence of any sectorspecific
triggers. The Nifty Bank index is expected to find support at 18800-18500 levels,
while resistance is seen at 19500-19800 points. The index fell 1.9% during the holidaytruncated
week, before ending at 19020.15 points today.

The volatility seen in banking stocks this week is expected to cool down. However, selling
may be triggered if the Nifty Bank index does not cross 19700-levels. DCB Bank will be in
focus on Monday after it detailed its earnings for the quarter ended September post market.
YES Bank will also be in focus, with the private sector lender scheduled to announce its Jul-
Sep earnings on Thursday. Other lenders which will detail their quarterly results next week
include Lakshmi Vilas Bank, recently-listed RBL Bank, and State Bank of Bikaner and Jaipur.