Hold Kotak Mahindra Bank: Anu Jain

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Hold Kotak Mahindra Bank: Anu Jain

Hold Kotak Mahindra Bank, says Anu Jain, Vice President-IIFL Private Wealth Management at India Infoline.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Anu Jain See what other Experts & Brokerages are saying about Kotak Mahindra See messages about Kotak Mahindra Kotak Mahindra BSE | NSE 10/02/12 Are Mutual Funds betting on Kotak Mahindra?

Hold Kotak Mahindra Bank , says Anu Jain , Vice President-IIFL Private Wealth Management at India Infoline.

Jain told CNBC-TV18, "Friday closing was fantastic, so I thought it would make sense that momentum is going to continue. Private bank would probably see a lot of short covering that's apparent, so whether it's ICICI Bank or Kotak Mahindra Bank, I like the Kotak Mahindra Bank's chart better. It closed closer to almost Rs 800. It's made a high around Rs 832-837 zone where it kind of gets beaten up but I like the chart pattern."

She further added, "I feel that this is something which for the long-term beyond Rs 837 will give a good breakout. Do not know as and when it happens that would be the time to watch it out for. As of now I am giving it as a stoploss at Rs 770 to trade for Rs 830-832. But I would be wanting to watch this when it crosses those Rs 840 odd levels because this counter has got much more on to it than what we are reading into it right now. So probably this is something that I would look as a stock to hold for three-six months but for trading as of now Rs 830-832 seems to be the level."