Bank Stocks
Outlook for the week – 24 to 28.11.2014
( www.rupeedesk.in )
Bank stocks are expected to
continue to rise next week. However, investors will be cautious
ahead of Reserve Bank of India's
bi-monthly policy review on Dec 2.
The uptrend is expected to
continue next week as sentiments are positive. But it won't be
advisable to build fresh long
positions at this point as the November contract will expire next
week keeping the futures
volatile.
Yesterday, the Bank Nifty
breached the 18000-point mark for the first time and touched a lifetime
high of 18139.95 before settling
at 18056.30.The combined impact of Kotak Mahindra
Bank's acquisition of ING Vysya,
State Bank of India stock split, and regulatory permission for foreign institutional investors
to invest in YES Bank lifted Bank Nifty yesterday.
