COMPANY NAME- SYNDICATE BANK                  13-MAR-2011.

RECOMMENDATION- SELL             PRICE TARGET 95-100                                          CURRENT PRICE -112         

                                     COMPANY BASIC INFORMATION

ISIN Id

INE667A01018

BSE Id

532276

NSE Id

SYNDIBANK

INDUSTRY

Banks - Public Sector

Market Cap

5846.04

Book Value

100.06

EPS (TTM)

17.76

Price/Book

1.12

Face Value

10.00

P/E

6.31

Div(%)

30.00%

Industry P/E

10.72

P/C

5.76

Div Yield (%)

2.68

STOCK PRICE HISTORY( NSE)

All Time High   

164.25

All Time Low     

4.45

52 Week High   

164.25

52 Week Low     

82.35

 

 

 

 

 

 

 

 

 

 

 

Recommendation-

The stock has recently met a very strong bear crossover when the intermediate term 65 days EMA  crossed its longer term 200 days DMA from upside and the direction of its shorter term as well as intermediate term moving averages is sloping down. Earlier it managed to rally after forming a small base formation around 100 levels to 117 but it was just a bear rally and once again the counter is poised to be beaten down. A double top formation on the RSI and a bear crossover in the MACD is also suggesting further pressure in it. We therefore recommend a fresh short in the counter around 115 with a stop loss above 118 for a very short term target of 100.