Exit OBC; may slip to Rs 250, says Kunal Saraogi

Kunal Saraogi, CEO at Equityrush told CNBC-TV18, "I think for all government banks the charts have deteriorated. In fact for Oriental Bank of Commerce (OBC) there is a gap in today’s trade and if this gap sustains towards the close of the day, I think that the stock could go down further."

"My target on the stock is somewhere close to about Rs 250 where the next meaningful support should kick in. So at the moment, I think one should be bearish and in case you are holding the stock for sometime, I think it is a good idea to probably exit now and look to re-enter at lower levels," he added.