www.rupeedesk.in
Bank stocks are seen under pressure as profit-booking is likely to continue in the coming week. The market is now correcting and the trend is secular with no particular bias towards state-owned or private banks. The market will ease but with a close eye on bank earnings that will be reported in the coming week.
However, Bank Nifty is likely to take support at 12,500 levels and may see some bounce-back from those levels. We expects equity markets to take cues and react to specific earnings announcements, and continues to maintain his positive stance on private sector bank stocks. Axis Bank, HDFC Bank, IDBI Bank, Development Credit Bank, South Indian Bank, Yes Bank and Federal Bank are set to announce their Oct-Dec earnings in the coming week. The private bank stocks to be driven by earnings performance while government-owned banks are seen reacting to cues on asset quality.
