The correction should be complete, before purchase can be done.
Trigger price - 26
Trigger price - 26
Bank Of India:- 18/12/13 Post RBI dovish stance, there is a good momentum in the rate sensitive stocks. However, due to impending FED taper meet later in the day, the stock was unable to cross the resistance of 220. If FED doesnt taper in the 18th Dec FOMC meet, then the stock would clearly break on the upside for target of 230 and beyond. This can also be bought with a contrarion view that recent RBI measures of Strict rules for early indentification of Bad loans and higher NPA provisioning means woos for PSU banks. However, this in long term will help to PSU to lessen the detoriation in Loan Books. In Addition, last financial quarter BOI was few of the stocks which showed remarkable improvement in asset quality. hence, the chances of the stock going up higher is very likely as compared to other PSU banks. Another point to ponder upon, most of the private banks have reached the FDI limits, hence eventually have to be excluded from the MSCI. So, the upside in private banks ...
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