Buy Bank of Baroda at around Rs 980-1000: Nooresh Merani

Nooresh Merani of Analyse India told CNBC-TV18, "I would not short the banking space because they have finally broken out and shown big divergence to Nifty. So, this is an indication of leadership starting up. I would like to look into State Bank of India (SBI) and Bank of Baroda on declines where in Bank of Baroda has finally made an all time high which is the only public sector undertakings (PSU) bank that has done so. So, any dip to Rs 980 -1000 is where we would be looking into the Bank of Baroda to buy."

At 14:28 hrs Bank Of Baroda was quoting at Rs 1,083.85, up Rs 11.85, or 1.11 percent. It has touched an intraday high of Rs 1,085.25 and an intraday low of Rs 1,047.50.

Disclosure: Analyst would have investment positions in the stock.