Hold Bank Of India with a target of Rs 355: Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research, SMC Global Securities Limited is of the view that one should hold Bank Of India with a target of Rs 355.

Thununguntla told CNBC-TV18, “Traders and investors are experiencing losses across the table and with today’s massive fall I am sure most of the portfolios must have come into red. However, having said that mid-cap PSU banking space it is better to hold on because in which way you have seen through most of the panic. So, it is better to hold on. For Bank Of India, I feel in next three months or so you will see a level of Rs 355 also. However, keep in mind that if Rs 290 level or so gets broken probably we are witnessing a much more severe fall but that is a separate discussion. However, at this point you better hold on with target of Rs 355 in maybe next three months or so.”