Buy Dena Bank at Rs 56-60: Gujral

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Buy Dena Bank at Rs 56-60: Gujral

Buy Dena Bank at Rs 56-60, says Technical Analyst, Ashwani Gujral.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ashwani Gujral See what other Experts & Brokerages are saying about Dena Bank See messages about Dena Bank Dena Bank BSE | NSE 10/02/12 Are Mutual Funds betting on Dena Bank?

Buy Dena Bank at Rs 56-60, says Technical Analyst, Ashwani Gujral .

Gujral told CNBC-TV18, "Dena Bank has run up quite a bit, the good way of investing from a one year perspective to invest is that when you get 10-15% types of dips in the market which you get every three months, from 4,600 we fell to 3,900 and we again fell from 5,200 to 4,550, so use those dips to get into such banks."

He further added, "Dena Bank went almost to Rs 56-57, so those are the kind of levels you need to look at if you want to make money and when you are feeling comfortable, the market has probably run up quite a bit. So on any banking stock particularly largecaps you can buy PNB that can get up to Rs 1,000 but buy it on dips, SBI one can buy at around Rs 2,250, Dena Bank at around Rs 56-60, something like an Allahabad Bank if it comes down to Rs 115, those sort of levels once they get smashed down that is the time you buy."