VIJAYA BANK; STOCK CALL

                         CMP 54.5        BSE 16751

If one wants to have a look at the mid cap PSU Banking space then VIJAYA BANK seems to be a prime choice.

• On the upside, resistance seen at 59 followed by a major one at 62 and then at 70 and 83.
• On the downside, good supports at 51, 49 and then a solid one at 44. Bottom seems to have been made at 43 odd earlier this month.
• Fundamentally, OK, though last Quarter was a bit of a howler, if I recall correctly. But nothing that the Rate Cycle reversal will not rectify quickly. So at the current P/BV,  it is a good pick from this space.

Overall, not the best of fundamentals for sure, but everything is good at a price, and for me, VIJAYA BANK remains a BUY at CMP and all dips. Possible upsides in excess of 50% over the next 12-18 months, macro environ and of course, God-willing.