Buy UCO Bank around Rs 77, says Rahul Mohindar, viratechindia.com.
Mohindar told CNBC-TV18, "I think the biggest issue in banking stocks is of entering at these levels because the risk reward is not going to be too much in your favor. If you are getting into a Dena Bank at Rs 87 and with the stock probably heading to Rs 95- 96, the supports are much lower down. So closer towards Rs 80-79 that's where I think you would find some support. So it's really risk reward that's not justified, but on the whole I continue to be bullish on these stocks, both UCO Bank and Dena look good."
He further added, "UCO Bank can do a lot better, so given a choice I would probably buy UCO Bank at Rs 77 keeping a Rs 73 stop and probably expect the stock to move to Rs 88 kind of levels. Banking looks strong but if I would really focus on private sector, that's where I think there is a lot more potential, the likes of Kotak Mahindra or Yes Bank , there I can see some significant upsides in the next three to four weeks."
