Buy Canara Bank; Sell PNB: Sukhani

Sudarshan Sukhani of S2analytics.com is of the view that one can book some profit in Punjab National Bank (PNB) while can buy Canara Bank.

Sukhani told CNBC-TV18, “One can book some profit in Punjab National Bank somewhere around Rs 830-840. In the same way State Bank has done very well, but probably a Rs 100 more from current levels is where traders should say we have had a good run, let’s get out now.” He further added, “Canara Bank in spite of all the rallies that it has seen is much lower than where it was. The rallies are probably beginning now. So, Canara Bank is a buying opportunity. These banks have run up, they can consolidate for a few days. So, either you wait for the consolidation, that may or may not come about or you must be prepared that after you buy if they consolidate you shouldn’t get worried.”