Dhanlaxmi Bank may slip to Rs 36: Abhijit Paul

Abhijit Paul of Alphative Advisors told CNBC-TV18, "Over last 30 trading days, Dhanlaxmi Bank has managed to bounce back fairly well. The stock has bounced back from a low of Rs 24.2 on the upside. Short-term trend has moved up. What I would recommend is stay put, don't average out again because it is not the best of ideas, one might put in that money into some other stocks which are performing fairly well."

"Dhanlaxmi Bank has upsides close to Rs 48 and from a medium-term to long-term point of view, it can extend further up towards Rs 54 and 62. That is a call from a slightly long-term point of view. From the immediate point of view, it is likely to drift down a bit, it can come down close to Rs 36 mark, find some support there and probably inch further up towards Rs 45 and then Rs 48," he said.