Hi Vpers, I am Ex PSU Banker (Indian Bank erstwhile Allahabad Bank), resigned after putting 9 years of service in March 2020 just before Covid started and at the time when the PSU Banking sector was facing the strongest Headwinds with huge NPAs. At that time just after the announcement of merger of Allahabad Bank with Indian Bank the Indian Bank share tanked like anything from 180 odd levels to 38 levels. The share peak price was 400 and fell more than 90% from there. At that time I had little understanding of the stock market, though I was buying and selling stocks just like naive investor.
Now since I have gained some basic understanding and created well diversified portfolio for myself the thought of missing the opportunity to acquire some stock at that point from where things could go only in positive directions and especially when the Indian Bank was not showing as bad earning as other PSU banks were showing.
The point of putting this post is that now again the stock has reached or even moved 5% above that previous peak level of 400, what Idea do you get after observing the chart pattern. The pattern in in blue sky zone if it is fair to say.
The P/B has peaked though at 1.1.
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