See upside in Syndicate Bank: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "Some public sector undertaking (PSU) banks are in the buy list but essentially these are short-term trades. The Bank Nifty does not lend itself for any kind of a long-term uptrend, in fact they are hit and run trades. Take the trade today, if it works out then get out in the afternoon or tomorrow morning."

"Syndicate Bank is a slightly better PSU bank in terms of charts. It has found some lows; it is now bouncing off those lows that it had made. It is also giving signs of going mildly up. It is a short-term trade but if the Bank Nifty behaves well today then PSU banks should be bought into, just for a day or two," he said.

The share touched its 52-week high Rs 145.20 and 52-week low Rs 97.00 on 15 January, 2013 and 23 August, 2012, respectively. Currently, it is trading 20.28 percent below its 52-week high and 19.33 percent above its 52-week low. Market capitalisation stands at Rs 6,967.57 crore.