Bank Stocks
Outlook for the week – 03 to 07.11.2014
( www.rupeedesk.in )
Bank stocks are expected to
continue their positive run next week tracking the broader markets
that are at life-time highs.
Action in the coming week, truncated due to holidays on Tuesday and
Thursday, will also be
stock-specific as some banks will report their quarterly earnings next
week.
Bank of India, Canara Bank,
Indian Bank, among others, will detail their Jul-Sep earnings results
next week. We expect the Bank
Nifty to continue the current up-move and head towards 17900
in the coming months. The
September contract's lifetime high of 16364 will remain a key support level for the Bank Nifty.
