Bank Of India can test Rs 435-440: Jatinder Sharma

Bank Of India can test Rs 435-440, says Jatinder Sharma, Partner, Equity Strategists.

Sharma told CNBC-TV18, "In morning Bank of India was looking good because it was finding support around Rs 390-385 levels and it has found support around these levels for past so many months, so technical rebound could have been expected. Even now I believe that that stock could be bought at current levels with small risk trade because Rs 385 is the stoploss level for Bank of India and it could go to all the way up to around Rs 435-440 or maybe if the market support it could even head higher."
He further added, "Among the largecaps I believe HDFC Bank is still showing some resilience around Rs 2,240-2,245 levels, so maybe on semblance of some support around these levels one could go long in HDFC Bank."