Short Canara Bank, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The short calls in PSU banks are coming allover, so it was just a matter of selecting the ones that we would be wanting to trade, so that is Canara Bank."

"Oriental Bank of Commerce is also a short, but all PSU banks are broken down from narrow trading range and the idea is that they are looking at lower levels. So Canara Bank is a short selling idea, wait for the first five-ten minutes of cooling off and then go and sell it," he adds.

At 09:18 hrs Canara Bank was quoting at Rs 256.20, down Rs 2, or 0.77 percent.

The share touched its 52-week high Rs 527.50 and 52-week low Rs 189.90 on 18 January, 2013 and 28 August, 2013, respectively.