Buy Dena Bank, target Rs 72: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Today's trade has been completely about banks especially small public sector undertaking (PSU) banks because in the current bull run all these PSU have not participated at all. Infact most of the banks are now providing bottoming out chart structure. It means that in next couple of weeks these banks will do well."

"The likes of Dena Bank as well as the likes of Andhra Bank, Syndicate Bank and even State Bank of India (SBI) will do well because they have been consolidating at lower levels. Dena Bank has seen a sharp correction, in fact in today's trade it bottomed out and given a breakout from a rounding bottom pattern also the stock has given a break above its 200 days moving average. It tells that the worse is over and the stock is going to resume a previous uptrend. So buy Dena Bank for a target of Rs 72," he added.