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Please advise me on the long-term outlook for South Indian Bank. I purchased the share at Rs 18.
T.V.S. Sai
South Indian Bank (Rs 22.9): The long-term outlook for South Indian Bank is positive. The correction from the last quarter of 2010 that devastated many stocks has not affected this stock much.
The stock has displayed resilience by hanging on to the first long-term support at Rs 20. Continued movement in the band between Rs 20 and Rs 30 will retain the positive outlook for the long-term.
The stock then has the potential to break out to Rs 36 or Rs 45 over the long term. Investors can hold the stock as long as it trades above Rs 20. Subsequent supports are at Rs 17 and Rs 14.
Please advise on Godrej Industries and IndusInd Bank.
Priya Vaswani, Sanjay Vaswani
