Coal India, SBI and Adani Enterprises continue to trade with a robust bullishness, while TVS Motor and Bajaj Finance seem to be struggling to hold their ground, technical charts show.
As per the charts, SBI and DLF need to conquer the near resistances at Rs 620 and Rs 420, respectively, for fresh gains to emerge.
Recently, SBI raised Rs 10,000 crore through its maiden issue of infrastructure bonds, for funding infrastructure and affordable housing segment.
Stocks to Watch Today: SBI too may be in focus after the PSU bank successfully raised Rs 10,000 crore via its maiden infrastructure bonds.
Stocks to Watch Today: According to reports, Zomato is likely to witness a block deal on Wednesday.
SBI has seen long-build in the November series, with a 3 per cent rise in open interest and price so far, says the technical & derivative analyst.
The Nifty PSU Bank index hit a new high of 3,811.15 on Wednesday, and has zoomed 67 per cent from its 52-week low of 2,283.85, touched on June 20, 2022.
Shares of State Bank of India (SBI) climbed nearly 5% to an all-time high on Monday after the country's largest lender reported a record quarterly profit
SBI with its humongous size has reported consistently upbeat performance with this quarter seeing above par growth in earnings and return ratios, said analysts.
SBI Q2 preview: SBI's NII is expected to grow less than 10 per cent both, yearly and sequentially, and may come in the range of Rs 32,681 crore to Rs 33.537.6 crore
The Nifty PSU Bank index hit a fresh 52-week high on Friday and has gained 15 per cent so far this month. The index can rally another 4 per cent.
Public sector banks are well placed on charts, indicate positive upside in coming days, while Private Banks rigorously need to take off their respective hurdles.
A recovering economy may lead to higher credit demand from corporates, despite rising rates and there are signs that retail consumption is picking up
Here are trading strategies for key banking stocks that will help you maximise your gain.
The PSU Bank index has rallied 31 per cent as against a 16 per cent surge in the benchmark from June lows; Among stocks, Bank of Baroda, Indian Bank and Union Bank of India can rally up to 16%.
Paytm and Nykaa have logged smart gains gains in trade so far on Monday post Q1 results, while SBI and BPCL declined notably. Going ahead these are the key levels to be watched on these stocks.
Shares of State Bank of India were down after the bank on Saturday missed estimates with a 6.7% fall in first-quarter net profit hit by investment losses
Gradual improvement in margin, steady operational efficiency coupled with adequate provision buffer to aid earning momentum, analysts said.
According to the analyst from Anand Rathi, SBI has not seen any meaningful correction, and the stock now hovers near the multiple tops zone.
Stocks to Watch Today: CRISIL, GSFC, Hindustan Zinc, JSW Energy, Mphasis, PVR, RBL Bank and SRF to announce Q1 results on Thursday.