Dena Bank has target of Rs 107-108: Thukral

Dena Bank has target of Rs 107-108, says Hemant Thukral of Aditya Birla Money.

Thukral told CNBC-TV18, "Among the banking sector the smaller public sector undertaking (PSU) lot continues to see buying interest emerging. Dena Bank continues to see the way the open interest build-up, in fact, last one week the stock has seen an open interest build-up of 36% which has been accumulated and the way the cost has moved up a lot of long positions have added up."

He further added, "Another important thing that the stock has manage to close at its 52 week high around Rs 102-103 levels. So if it continues to sustain above Rs 99 the stock is ready to make a new 52 week high and move towards Rs 107-108 levels. So anyone who is taking positions today is around Rs 102 levels, has to keep a strict stop loss of Rs 99. We are expecting a target of Rs 107-108 in immediate short-term."