MOST OF THE STOCKS IN THE BANKING SECTOR HAVE PERFORMED FROM 17 PERCENT TO 100 PERCENT ON A AVG BANKING STOCKS HAVE PERFORMED FROM 20 TO 40 PERCENT BUT ONLY CANARA BANK HAS PERFROMED(228.95-240.75) 5 PERCENT FROM 15-05-2009 PNB HAS PERFROMED 2 PERCENT AND AXIS BANK 6 PERENT SO WHEN THE MARKET COMES NEAR THE BUDGET CANARA BANK WILL BE SMART PERFORMER EVEN IF YOU TAKE AN AVG MOVEMENT OF PSU BANK AFTER 15-05-2009 THEY HAVE PERFORMED 25 TO 40 PERCENT EVEN IF YOU TAKE INLINE WITH OTHER PSU BANKS IT HAS TO PERFORM ANYWHERE ATLEAST 25 PERCENT SO 228.95 PLUS 25 PERCENT IT SHOULD BE 286 RS SO BUY NOW AND SELL 1 DAY BEFORE BUDGET
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I agree with your view. Moreover market makers(operators) have heavily shorted the script. Today itself, they have started covering their short. Hence in another 5 trading sessions it will be trending up continuously till it reaches 283.
Latest Update. Today using weekness at the end of the trading session, market makers (operators) have covered their shorts and become net long. They will squeeze general traders who have shorted.
Hence CANARA BANK will see dramatic run up from now onwards till it reaches 324.