Go long in OBC, says Manas Jaiswal

Manas Jaiswal of manasjaiswal.com told CNBC-TV18, "Most of the public sectors undertaking (PSU) banking stocks are looking strong on the charts. Oriental Bank of Commerce (OBC) has broken 200 day moving average and it breached 50 day moving average also. On the weekly chart it has made a morning star pattern. So one can take a chance and can go long at current level keeping a stoploss below Rs 257 and the target would be around Rs 280."

At 14:20 hrs Oriental Bank of Commerce was quoting at Rs 264.30, up Rs 8.30, or 3.24 percent. It has touched an intraday high of Rs 268.80 and an intraday low of Rs 255.60.