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Top Banking Stocks to bank upon

Tuesday, June 19, 2007 7 comments

Banking seems to be the flavour of the season with ICICI IPO hotting up. The excitement associated with this issue might result in a lot of action in the banking sector.This might be a good time to identify couple of strong banking stocks:

UTI bank which has just hit a high of 615 looks set for an upward move. Support at 550 levels.

Kotak Mahindra Bank which moved up,consolidated and is again ready to move up. The supports exist around 540-550 levels. 629,which happens to be the all time high looks to be the only resistance in its way.

HDFC Bank remains good above 1060 but it is might be better to observe an upward move from the stock for breakout confirmations. Supports around 1060 levels.

SBI is again beginning to move up. Off late ,it has been trending nicely. A strong closing this week might result in SBI breaking new grounds. Supports around 1300 levels.

ING Vysya bank which has support around 225 levels looks strong.But it is a little more volatile, so you should have the stomach for it.

Bank Of India has supports around 180 levels. Again a very volatile stock and looks like a favourite of intra-day traders.

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