Go long in UCO Bank, advises Ashish Chaturmohta

Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, "Most of the midcap PSU banks are showing a very strong price momentum. UCO Bank has seen a build-up of almost 18 percent in terms of open interest from Rs 74-75 kind of levels. This is a very strong base around Rs 75 odd levels in the stock."

"Technically, on the monthly charts, it has given a breakout above this Rs 80 mark so one can initiate a long position keeping Rs 78 as a stoploss. Rs 87-88 could be the possible target in next three to five trading sessions in it," he said.

Disclosure: He does not have any personal holding in the stock.