Vijaya Bank will drop to Rs 82-83: Sandeep Wagle
On Vijaya Bank, I see a fall to somewhere around Rs 82-83. The way it had rallied over the last few weeks, from roughly Rs 84 to Rs 94-95 levels, says it all.
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| Updated: In a chat with ET Now, Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, shares his stock ideas.
What is the call on Vijaya Bank and ICICI Bank?
The market was expecting something more than what the numbers have delivered. On Vijaya Bank, I see a fall to somewhere around Rs 82-83. The way it had rallied over the last few weeks, from roughly Rs 84 to Rs 94-95 levels, says it all, but at this level, I see some more downside clearly in Vijaya Bank to the tune of Rs 82 or Rs 83.
On ICICI Bank, I see a lot of resistance around Rs 1,125-1,130. On the downside, I see a support at Rs 1,090-1,085. So, ICICI is very much range bound in this Rs 30-40 range.
What is the call on Vijaya Bank and ICICI Bank?
The market was expecting something more than what the numbers have delivered. On Vijaya Bank, I see a fall to somewhere around Rs 82-83. The way it had rallied over the last few weeks, from roughly Rs 84 to Rs 94-95 levels, says it all, but at this level, I see some more downside clearly in Vijaya Bank to the tune of Rs 82 or Rs 83.
On ICICI Bank, I see a lot of resistance around Rs 1,125-1,130. On the downside, I see a support at Rs 1,090-1,085. So, ICICI is very much range bound in this Rs 30-40 range.
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