Indian Bank seems to be a really good bet

Hi All,

I've an opinion that Indian Bank would be a definite value buy for medium to long term investment at current levels, considering many parameters like dividend yield, EPS, price to book ratio.
I would like all experts over here to spare some time and provide their valuable inputs in this regard.

Thanks in advance.

Naveen

 

But Naveen stock is continuously in downtrend since Feb'13. What would be entry point (support)?

 

Thanks masih for your comment and query. Your question is relevant definitely, but i think one could start investing or at least nibbling in at these levels, where dividend yield alone could justify. Once there's a reversal, it should turn out real partying I suppose. Technically speaking, not a single member here may not agree with a BUY sometimes. I'm not sure if the fundamentals about this stock has got some thing really erratic to continue under performance. Otherwise, I guess the bottom shouldn't be much below. Please correct, if I'm going wrong some where.

 

hmy: Could have been a great buy at sub 70 levels. Thought of playing a wait and watch game then and finally forgot and missed out the opportunity.

 

I Feel it may go to 140 level and form double bottom then again makes swing pivot and go higher. That can be point of buying. My ideology is do no catch the falling knife.
As per Fibonacci calculation. Pivot high made in March 2011 around 489 and three pivot made around 263 level difference is 226. Swing low made at 130 Aug 13 is at around 61.8% level of difference. 226*61.8%=129, 263-129= 134 .
This is what i can see right now, if i notice something further will update you.

 

Quit 80% positions @ 130+ levels.

Thanks
Naveen