Bank Stocks
Outlook for the week – 27 to 31.10.2014
( www.rupeedesk.in )
Bank stocks are expected to trade
with a positive bias next week taking cues from quarterly bank
earnings. ICICI Bank, State Bank
of Mysore, ING Vysya Bank, Andhra Bank, Allahabad Bank,
among others, will detail their
Jul-Sep earnings results next week.
The private banking space is
continuously outperforming after the good results announcements
in the stocks like IndusInd Bank,
HDFC Bank, and Axis Bank. The report added that Bank Nifty
was also likely to continue
outperforming the Nifty with an upside target of 17000. Bank Nifty has support at 16000
and will face resistance at 16950. The next week will be a mild
positive for bank stocks.
