2 Multibagger Stocks : ING VYSYA BANK and L&T FINANCE
ING VYSYA BANK
Reco to paid clients @ 420-25 avg
TRADING AT 470 NOW
L&T Finance : Reco to paid clients @ 55-53
TRADING AT 60 TODAY
Thursday, 5 September 2013
HDFC Bank – SELL ON RALLY
HDFC BANK TECHNICAL VIEW
-> Technically the stock had a lot of support around 610 levels which has actually become a resistance now.
-> Also the stock has been the most resilient in the banking segment. But with the breakdown seems it can either go back to 550 or lower or get sideways.
-> A rise to 605/625 can be a short with a closing stoploss of 630 and downside target of 550.
Quick Thoughts :
Even investors can have a relook into their HDFC Bank core holding as this remains the most expensive on all ratios and technically showing we might have made an important top around 700-730.
The assumption has been it will continue to grow 30% year on year. Will it continue to deserve similar multiples, price to book of 4-5 or is it better to shift into a bank which is available at a much better value. When many other banks have collapsed 50% from peak and if one needs to have some banking exposure in the portfolio should it be HDFC or some other ones.
Technically none of the other banks look in a good shape but further corrections of 20% can make some of them interesting.
MARKET SALUTES RAGHURAM RAJAN WITH 150 POINT STELLAR RALLY
Todays gap up of 150 point on Raghuram Rajan speech is a good thing
for everyone. The bulls get their profit booking zones and shorts can be
back with a risk-reward in favor.
Technically the trend has changed to down post the trendline breakdown. A retest of same is always warranted and generally is a good time to increase cash or go short.
This is the quick technical chart.
Technically the trend has changed to down post the trendline breakdown. A retest of same is always warranted and generally is a good time to increase cash or go short.
This is the quick technical chart.
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