Krish Subramanyam of Asit C Mehta Investment told CNBC-TV18, "Karnataka Bank saw some severe shorts last month and I suspect that we could see some sort of short covering emerging and this has been a very high volatile counter. Today I saw it nudging at Rs 106-107. So, we could see some sharp upward movement to Rs 113-114 in the coming days."
At 14:47 hrs Karnataka Bank was quoting at Rs 105, up Rs 1.55, or 1.50 percent. The share touched its 52-week high Rs 198.80 and 52-week low Rs 69.10 on 11 December, 2012 and 06 August, 2013, respectively. Disclosure: He has recommended the stock and strategies to his clients who are holding them at large.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
