See upside in Dena Bank: Sudarshan Sukhani

See upside in Dena Bank, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I have been cautious for the last two-three days because banks did topsy-turvy movement. But banks are again in an upbeat stance, the correction at least for now is unlikely to come. So banks should be bought into. I am long in the Bank Nifty since last two days. Public sector undertaking (PSU) banks are now going to do what they did in 2006-2007 - significantly outperformed."
He further added, "Dena Bank is poised for a short-term trade on the upside. It’s in a narrow range. It’s willing to breakout. I am assuming that all these breakouts will be on the upside. So, Dena Bank is likely to be a short-term outperformer among the PSU banks."