Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Dena Bank fell from Rs 96 to Rs 81, hardly a resounding endorsement of a bullish pattern. However, for the last 15-20 days it has stopped falling, it is now building a small trading range. It is not a very large base. It is now pulling up and breaking out of that range on the upside."
"So, the decline is over, the market is suggesting that the Bank Nifty maybe priming up for some renewal of that rally and especially public sector undertaking (PSU) banks, Dena Bank is an attractive buying opportunity, keep stops because the market can do anything. However, I would buy it," he adds. Also Read: ICICI Bank ups ante on Indian govt securities
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