Monal Desai, VP Head Institutions Derivatives, Prabhudas Lilladher is of the view that UCO Bank has target of Rs 78.
Desai told CNBC-TV18, "UCO Bank hovering around Rs 72-73 for last two days and today it started moving up. Rs 78 are what we are looking at in terms of targets and about 4.5-5% open interest."
He further added, "The other stock in that space would be IOB . It has broken out pretty well. It's had another 4-5% over there with strong volumes also. So Rs 105 looks to be thereon the cards. One can keep a stoploss somewhere below Rs 90 for a target of Rs 105 plus."
