Tuesday, February 7, 2012

Bank Nifty / Bankex Review - Buy on declines


Top 5 Private Sector Banks - Buy on declines

We have done detailed analysis of the Q3 results of private sector bank and following is the summary of our Report.

One week returns

Bank Nifty 3.25%
HDFC  4.76
ICICI 2.96
Kotak 6.03
Axis 2.16
Yes 5.28

One month returns

Bank Nifty - 19.85%
HDFC 14%
ICICI 22.44%
Kotak 16.53%
Axis 26.50%
Yes 38.39%

3 months returns

Bank Nifty - 3.02%
HDFC  4.83%
ICICI 3.64%
Kotak 3.14%
Axis -2.50%
Yes 8.25%

Six Months returns

Bank Nifty - 2.12%
HDFC  6.95%
ICICI -6.01%
Kotak 18.85%
Axis -11.88%
Yes 13.08%

Our Recommendation - With Buy and Sell ranges given below

Bank Nifty

HDFC  475 - 540
ICICI 850 - 935
Kotak 450 - 550
Axis 950 - 1260
Yes 315 - 365

Look for a correction of about 8-10% and buy the above stocks on dips.  The banking sector is likely to do well in the coming months and will support both the Nifty and Sensex to stay higher.

Bought to you by

Ingenious Investor
Equity Research Division

Ravina Consulting
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3rd Cross Kamanahalli
BANGALORE 560084

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