Buy Federal Bank, says CA Rudramurthy

CA Rudramurthy BV of Vachana Investments told CNBC-TV18, "If I see open interest built up in Federal Bank for last two-three consecutive trading session, irrespective of market, the stock is showing a lot of positive signs. I look at buying it keeping a very tight stoploss somewhere at around Rs 54. One can expect a target of around Rs 60. Consolidation is getting over and stock is ready for an up move."At 13:24 hrs Federal Bank was quoting at Rs 56.90, up Rs 1.55, or 2.80 percent.