Bank Stocks beginning NEW INTERMEDIATE UPTREND

Traderji · #1 8th November 2004, 08:20 AM

Bank Stocks beginning NEW INTERMEDIATE UPTREND

A number of bank stocks seem to have woken up from their 5 month hibernation to begin new intermediate uptrends. My favourite among them are:

State Bank

Union Bank

Bank of India

Andhra Bank

Indian Overseas Bank

Appreciate any comments from the members of this forum. Also would love to see you all post your comments either on the fundamental or technicals of these bank stocks or the BSE Bankex index.

billauday · #2 8th November 2004, 09:49 AM

Your right traderji, the banking sector has begun its rally and hope will continue for few months.And one more bank to add united western bank.

Traderji · #3 8th November 2004, 09:54 AM

Quote:

Originally Posted by billauday

Your right traderji, the banking sector has begun its rally and hope will continue for few months.And one more bank to add united western bank.

Hello Billauday,

Long time no see in this forum?

Can you post a chart with your comments on United Western Bank.

Thanks!

andy · #4 8th November 2004, 10:07 AM

Hello Traderji,

Thanks for the recom on the bank stocks. Can you give entry price and targets?

Traderji · #5 8th November 2004, 10:30 AM

Quote:

Originally Posted by andy

Hello Traderji,

Thanks for the recom on the bank stocks. Can you give entry price and targets?

Most of these bank stocks will move up to test their previous highs. You can BUY a certain % of each of them now and add more on a pullback/correction.

Here are the targets:

State Bank: 600-625

Union Bank: 90

Bank of India: 80-85

Andhra Bank: 65-70

Indian Overseas Bank: 70-75

vassan · #6 8th November 2004, 08:04 PM

hi every body;
can anyone guide me on this---- i have 3000 idbi at 91.can i hold that or book loss.
thanks for the trouble u have taken to reply

Traderji · #7 19th November 2004, 10:05 AM

Quote:

Originally Posted by vassan

hi every body;
can anyone guide me on this---- i have 3000 idbi at 91.can i hold that or book loss.
thanks for the trouble u have taken to reply

IDBI is forming a contracting triangle pattern. Hold on with a stoploss at 83.00

One can BUY/ADD more on a close above 91.00

Traderji · #8 19th November 2004, 10:06 AM

Here is a list of the Bank Stocks that I would like to keep in my watch list.

Union Bank
Canara Bank
Corporation Bank
Kotak Mahindra
Punjab National Bank
Oriental Bank
State Bank
Bank of Baroda

Appreciate fundamental/technical feedback from you all.

sanagarwalsan · #9 19th November 2004, 03:06 PM

hi traderji,

i have 500 dena bank at 26
and
100 idbi bank at 47

can u tell me the target price for them. and also pls suggest whether to hold or sell these stocks

Traderji · #10 19th November 2004, 04:16 PM

Quote:

Originally Posted by sanagarwalsan

hi traderji,

i have 500 dena bank at 26
and
100 idbi bank at 47

can u tell me the target price for them. and also pls suggest whether to hold or sell these stocks

You can hold on to these stocks as the entire banking sector is looking up.

Dena Bank could move up to 37-40.

IDBI bank could move up to 58-60.

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