Financial Tech, Karnataka Bank can see smart upmove: Panda

Jitendra Panda of Capital First Securities is of the view that Financial Technologies can move up to Rs 840 levels and Karnataka Bank can touch Rs 158.

Panda told CNBC-TV18, “If you are looking for trades, high beta stocks are seeing rollovers whether it is infra, whether it is few of the auto packs and also the banking sectors. So we believe there are certain ideas there. Financial Technologies moving up in the last few sessions continues to hold strong. We believe Financial Technology would continue to move up to Rs 840 levels if it holds on Rs 800. Rs 800 could be a stop loss and Rs 840 is where you could look in a banking space." He further added, "Karnataka Bank and UCO Bank rollover has been strong. We recommend Karnataka Bank has target of Rs 158. Keep a stop loss of Rs 150 and from current levels in the May series also could be seen at the end of the day, we could see much higher levels from these current levels.”