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Jul 12, 2012, 08.23 AM IST
Kotak Mahindra Bank may rally another 4-5% in few days, says Salil Sharma, Kapur Sharma & Co.
Kotak Mahindra Bank may rally another 4-5% in few days, says Salil Sharma, Kapur Sharma & Co.
Sharma told CNBC-TV18, "The Bank Nifty has been lead indicator for the Nifty all along for the past few years and it continues to do so with a slightly bit higher than the Nifty. The current levels is not very good for that 10500 and it seems to be headed towards 10900. The lead is coming from the bigger banks like today we have seen a very good breakout come in from Kotak Mahindra Bank which is above Rs 623 levels. It could add another 4-5% in another few days" He further added, "I would bet on a small midcap PSU bank either Dena Bank where one could keep a stop loss of Rs 95 and hope for a target of around Rs 120 or a UCO Bank where Rs 75 could be the stop loss and in this case the target could be close to Rs 105."
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