Markets are still weak.
Indian Bank looks good:
monthly data: high 154, low 123
last week data: high 143, low 127.
Daily data: high 143, low 123 ( so weekly high was achieved on the last day of the week)
Notes:
Macro: banking is still good.
Fundamental - low pe (4.86), 52 week high 153. roe 22.53%, last div 30%, book value per share 153. free cash per share 81. bad current ratio but good quick ratio. sales, net profit and net profit margin all went up in Q109.
Technical: Daily RSI just turned positive, MACD about to cross zero., stochastic went into overbought zone. short terms average just went above long term average.
weekly, monthly momentum, RSI signals bullish. weekly short term average above long term average
Risks: trading almost at KLT upper limit. monthly short term average still below long term.
(Confusing point - whats better: move in when stoch goes above average or should one wait till macd fires)
will see, as of 26 june friday, indian bank closed at 141.
Indian Bank looks good:
monthly data: high 154, low 123
last week data: high 143, low 127.
Daily data: high 143, low 123 ( so weekly high was achieved on the last day of the week)
Notes:
Macro: banking is still good.
Fundamental - low pe (4.86), 52 week high 153. roe 22.53%, last div 30%, book value per share 153. free cash per share 81. bad current ratio but good quick ratio. sales, net profit and net profit margin all went up in Q109.
Technical: Daily RSI just turned positive, MACD about to cross zero., stochastic went into overbought zone. short terms average just went above long term average.
weekly, monthly momentum, RSI signals bullish. weekly short term average above long term average
Risks: trading almost at KLT upper limit. monthly short term average still below long term.
(Confusing point - whats better: move in when stoch goes above average or should one wait till macd fires)
will see, as of 26 june friday, indian bank closed at 141.
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