Short Term Buy Call For 'IDBI'
Stock analyst E Mathew is of the view that IDBI stock will provide hefty gains in the short run.
Presently (1:00 pm), the stock is trading 0.6% down at Rs 173.40.
Mr. Mathew has suggested investors not to sell IDBI stock before achieving a short term target between Rs 190-200. Traders should use Rs 163 as a stop loss. The stock can be bought in the range of Rs 167-169. Don’t buy it on upper levels.
IDBI has seen a 52-week high of Rs 181 on Bombay Stock Exchange. The P/E is 19.46, and EPS stands at Rs 8.96.
It seems that IDBI will touch another yearly high in the said time period. So keep the stock for at least 3-4 weeks.
Bank of India, Bank of Mah, Corporation Bank, Canara Bank, Central Bank and Dena Bank are some brilliant options for short term trading. For the last 2-3 weeks, the banking sector has been performing superbly. The interested traders can also purchase these stocks to reap gains in the short run.
However, the stock valuation will become more attractive as the companies announce their quarterly results in December.