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.
