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Moneycontrol.com >> Message Board >> View Messages >> Axis Bank
   You are here :     Moneycontrol     MMB    Stocks      Axis Bank                         Most active discussions of 2006 , 2007 & 2008
value at stone throw distance (1)   15-Jul-08 21:19Tracked by (0)  
Posted by:   cashflowindia on ( 15-Jul-08 21:19 )
Price : BSE: Rs 596.55 ( -6.17 % ), NSE: Rs. 597.10 ( -5.87 % )
The markets tanked much more than my expectations. I was surprised on the % loss for nifty. Though I have my levels and I am waiting for them. Let me give my levels for some of the stocks. I can write 10 different reasons for these levels from where these stocks will bounce back, but I don’t know how the interplay of so many factors will ensure that these are the final levels in the near term (near term: next 1 month).

ICICI: Rs 480 (with 5% on either side) is the final level. Maybe Temasek, some middle east company will see value and buy stake, or the bond yield reverses to touch 9%, maybe the losses from CDS is recouped or maybe the company decides to buyback, whatever the case maybe, 480 looks rock solid to me

For other private banks it’s much the same story with different characters in play.
Kotak: Rs. 420
Axis: Rs. 555
HDFC Bank: Rs. 905

There are some stocks where the bottom has already been formed, but the majority of the nifty stocks have yet to do so. So, my estimate is the value where the stocks will be steal is very near. Though the political uncertainty, inflation, oil and other usual suspects will throw their weight around from time to time, but the bottoms are near. Off course there is no sharp recovery from here, but risk-reward is in favor. So, go ahead, take the plunge in the next 4-5 trading sessions

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positive outlook
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News Updates on Axis Bank

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NSE Announcements on Axis Bank - Axis Bank Limited has informed the Exchange vide i...

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