7/20/2014 Buy Syndicate Bank, bullish on SBI: Manas Jaiswal - Moneycontrol.

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Jul 15, 2014, 01.53 PM IST | Source: CNBC-TV18
MANAS JAISWAL
manasjaiswal.com
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Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "I have chosen two banking stocks because Bank
Nifty has filed the gap on the daily chart and today it has bounced back sharply. It can come up to
around 15,000 which is 50 percent retracement level of entire fall from 15600 to 14300. So, I am quite
bullish on the banking space."
"I have chosen State Bank of India . The stock has taken support near Rs 2400. Today it
has bounced back sharply with very good volumes. Oscillators are showing positive cross
over, so it can recover in next two to three trading sessions. SBI can test around Rs 2550
which is 50 percent retracement level of entire fall from Rs 2729 to Rs 2380. So, I am quite
bullish on SBI. Stoploss should be Rs 2450 in it," he said.
" Syndicate Bank has taken support near 50 day moving average (DMA) and today it has
broken the intra resistance of Rs 150 with very good volumes. So, you may see further
recovery. The stock can test Rs 164 which is 61.80 percent retracement level of entire fall
from Rs 180 to Rs 140. So, one can buy Syndicate Bank at current levels and keep a stoploss
below Rs 146."
Di scl osure: Analyst does not have any personal positions in these stocks but has
recommended these stocks to his clients.
Buy Syndicate Bank, bullish on SBI:
Manas Jaiswal
Manas Jaiswal of manasjaiswal.com recommends buying Syndicate Bank at current levels
with a target of Rs 164.
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7/20/2014 Buy Syndicate Bank, bullish on SBI: Manas Jaiswal - Moneycontrol.com
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Comments 9
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Arunad
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Member
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I think SBI will hit again its 12 months high soon.
4 days 21 hrs 20 min 22 sec ago
subodh I
Platinum
Member
113 Followers
Government of India has clarified today that, they rejected the Nayak
Committee recommendation and continue to hold 51% stake in Public Sector
Banks. Hence, the small investors will have protection of price fall without
notice. Hence, better to prefer Public Sector Bank scrips for investment.
4 days 21 hrs 21 min 57 sec ago
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Draft Cab note for govt stake dilution in SBI next month
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