Karur Vysya Bank can go upto Rs 500: Kapoor

Sahil Kapoor of Edelweiss RCM Research is of the view that Karur Vysya Bank looks very good, the stock can go up to Rs 500.

Kapoor told CNBC-TV18, “Mid-cap space very crucial – right now one stock, which looks very good is Karur Vysya Bank – that stock is trading close to Rs 450 levels. It has seen nine consecutive closing below the close four weeks earlier, which is a very clear pattern, which shows that the stock is very oversold. Also, it is holding its 200 daily moving average (DMA). So, I think with a stop loss below Rs 425 you could look for a target of about Rs 500 in Karur Vysya Bank. So, this looks likely to be a good bet to play a turnaround in CNX mid-cap or possibly a few mid-cap counters.” Disclosure: We are advising our clients on the stocks that we have discussed. So you can take it that our clients will be holding these positions.