SOUTH INDIA BANK
• Currently, at a 6 year break out level. However, it has already had a stellar run the past year (400%). I have seen this pattern before too, seems like a Cup without a handle here. Does this mean we typically need to wait for to consolidate in this range for a while and/or convincingly break the resistance at 33.25 with volumes to definitively (I know there is no such thing in the stock market ) say that it’s a solid set up for an upmove? To all technical experts, any insights are much appreciated.
• From a business standpoint, things are looking good. Latest results are very good. Q3 net profit triples to ₹305.4 crore and asset quality shows improvement
• Still trading at a relatively low PE of 7
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