Go long in Canara Bank, target Rs 325-330: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "Canara Bank has outperformed the broader public sector undertaking (PSU) pack in last two trading sessions and has also come out from its narrow trading band after the consolidation of last 7-8 trading sessions. It closed near its 52-days moving average (DMA) and making an attractive bullish head and shoulder pattern. So all the data base and the price pattern indicates that long positions are intact and the momentum may continue. Also the built up of long positions compared to all other stocks indicates that this stock can nearly touch Rs 325-330 levels.""We are recommending to go long on Canara Bank with a stop loss of Rs 283 and I think this momentum may continue for next 2-3 sessions and target can be reached immediately," he said.