Buy Dena Bank, says Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can buy Dena Bank.

Sukhani told CNBC-TV18, "Dena Bank is an excellent chart; it’s at the top of its rally. Yesterday it closed at the highest points since the uptrend began in December, the Nifty is much below 5,600, if it crosses that threshold of Rs 100 it’s probably looking to go much higher, so maybe much more than we can imagine. Whatever is going on in PSU banks Dena Bank for today if the rally begins it could go 4-5% today and for position traders go and buy, don’t worry that it’s at the top, it will go much higher."
He further added, "ITC goes up all the time, something happens with the Budget, its up 15% from there and it’s in a trading range. ITC is one of those stocks which are willing to make lifetime new highs, which also then happen to be the new high for this uptrend or this bull market or whatever. So stocks that make lifetime new high specially blue chip stock like ITC need to be bought, just watch carefully if the index is to be pushed up ITC will be a major contributor in that, so that itself qualifies as a focus for traders today."