Buy Dena Bank, says Sudarshan Sukhani

Buy Dena Bank, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Public sector undertaking (PSU) banks are now giving the first sign of at least making a short-term low. We do not know whether this is the final low. The only way we will know is if the Nifty holds on but even short-term lows are tradable. It is also possible that the bank index may eventually do well for few days."
He further added, "Dena Bank has made a very minor small bullish head and shoulder pattern, it is breaking out of that and it is being accompanied by the similar patterns in many other PSU banks. So Dena Bank is a buying opportunity. Today the market could be choppy, so understand the nature. We cannot do anything about it but its worthwhile taking a position for few days."
"Yesterday ICICI Bank had a good move, so it’s going to consolidate today, tomorrow and any consolidation, intraday consolidation should be used to build positions in the bank. It is moving towards Rs 975 and probably then it will decide what to do." Disclosure: I have no personal holdings in the above stocks.