City Union Bank strongest amongst banking space, says Kunal Bothra, Sr Technical Analyst, LKP.
Bothra told CNBC TV18, "We have to watch out City Union Bank because it's fallen in the last 2 months but it has managed to recover very strongly as compared to other banks. Dhanlaxmi Bank , it's fallen from Rs 210-odd levels to Rs 97-98 but it's now recovered to Rs 120. So that retracement is very small but if you now bring up the chart of probably something like a City Union Bank it's fallen from Rs 52 to 36 levels but now it has come back to Rs 48. So these are stocks which are very strong if you have to look at form banking space."
He further added, "If I have to put money out of these two probably, City Union Bank or a Dhanalakshmi, I would look for City Union Bank because the momentum goes stronger and stronger on Nifty I think the stocks which are already strong will outperform the other stocks."
Disclosure: I don't have any personal holdings in any of the stocks mentioned but we keep recommending them to our clients as an now.
