Sandeep Wagle of powermywealth.com told CNBC-TV18, "South Indian Bank is not that impressive, but I do not see it breaking Rs 19 and I expect the stock to move in the range of Rs 19 and Rs 25. So, suddenly, one will get a chance to book at higher levels. But in case Rs 25 is broken, then maybe a move towards Rs 32 is possible."
"So I would advise to hold on with a stoploss of Rs 20 and maybe book out nearer Rs 25 or maybe watch out nearer Rs 25 and then play for a target of Rs 32," he added.
At 15:21 hrs South Indian Bank was quoting at Rs 21.25, down Rs 0.15, or 0.70 percent on the BSE.