Manish Hathiramani of Deen Dayal Investments told CNBC-TV18, "One may buy Karnataka Bank for a target of Rs 160 and stoploss of Rs 142. The Bank Nifty overall seems to have broken out into fresh high and that is what is going to propel the Nifty further. Karnataka Bank is now trading above the resistance levels Rs 146-147 and hence I am very bullish on this stock."
Karnataka Bank ended at Rs 147.65, down Rs 0.10, or 0.07 percent on the BSE.
The share touched its 52-week high Rs 157.20 and 52-week low Rs 91.20 on 03 December, 2014 and 04 February, 2014, respectively.
Disclosure: Analyst has taken personal positions in Karnataka bank in the delivery side.
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