ICICI Bank stock remains in sell zone as of 05 Aug 2016. Buy zone will start above 250. The stock has a history of recovering sharply from oversold areas due to rapid short covering.
Category Archives: Banking
Bonus Trade: Buy Goldman Sachs (GS) for Target $169
Hi, here is a bonus trade for all our regular website visitors. Buy Goldman Sachs (GS) stock at current market price ($151.75) for $169 as target, and $144 as Stop Loss. This trade can give 11% gain, and its likely to play out in coming 3-4 weeks. Following are the trade details.
Date: 15 March 2016
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Buy at: 152
Target: 169
Stop: 144
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Above 169, the next reliable target is 180. Patient investors can also hold for 180, by booking some profit at 169. We have been actively tracking Goldman Sachs (GS) for over 15 years, since year 2000, and once every 2-3 years, there are some very good buying opportunities in Goldman Sachs (GS). The stock has lost about 35% of its value during its recent correction from $220 to $140.
Please Note: If for any reason, we see a larger correction in the S&P500 in the coming months, then financials will correct further. In such a case, if we get Goldman Sachs (GS) at $100, then it will be a top buy in the entire market, with a reliable upside target of $200 in the next 3 years.
Disclaimer: Alpha Stock Trading will not be responsible for any gains or losses that occur in your trading. Investors/Traders should take their own decisions.
Nifty cracks below 8500, closes at 8462
Continued bad news from China, and weak earnings of large caps caused correction in Nifty, as Nifty cracks below 8500, and closes at 8462. On the international front, The People’s Bank of China (PBOC) allowed the yuan to depreciate almost 2 percent against the US dollar to levels last seen 3 years ago, sending a shock through global Forex markets. Indian investors are worried about impact of devaluation of Chinese currency. India’s largest bank State Bank of India (SBI) reported a mixed set of results. Net Profits beat market estimates but NPAs were a bit higher than last year. SBI Chairperson Arundhati Bhattacharya is confident that there will be a decline in NPAs. She pointed towards certain cyclical factors that affect SBI in the first quarter (April-June), and that NPAs have always shown up in the first quarter and going forward SBI is seeing reduction of stressed loans. SBI stock fell by 5% and closed 269. As expected, it was a high volume day for SBI. At P/E 11, the stock is attractively valued for investors who believe economic recovery is possible in 1-2 years from today.