Sunday, July 14, 2013

ANDHRA BANK : MORE DOWNSIDE IS REMAIN

Respected sir please advice me, i would like to ask to you about the andhra bank. Is it a good bank to purchase the shares or not. please advice thanking you sir ask by vijaya kumar. 
1. First of all i recommended to read my special view on banking sector which i publish on this blog when banking stocks traded on his all time highs. if you not read this special view then first read it at this link http://sharegenius.blogspot.in/2011/10/my-special-view-on-banking-sector-banks.html 
2.Now we discuss about andhra bank which is 10 rupee face value stock. 
3.Year high of andhra bank is 130 and year low 78.15, normal situation 
4. Promoters holding in andhra bank is 58 % FII hold 13.26% and DII 12.38 % , this is a normal pattern. 
5.Andra bank recommended 5 rupee per share dividend and ex dividend date for andhra bank is 15 July 2013. 
6.Overall every thing is OK but i think banking sector is still not bottoming out so you may see more lower levels in andhra bank so stock is not bad but buying is advisable only in SIP method , if we look at chart of andhra bank than we find andhra bank is traded below all of his DMAs so technically stock is in downtrend.

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