Ashish Chaturmohta of Fortune Group told CNBC-TV18, "There is lot of short build-up into the market and despite market seeing good recovery we are not witnessing any kind of short covering in public sector undertaking (PSU) banks."
"For Oriental Bank of Commerce, any break below Rs 205-206 on downside and look for Rs 197. Therefore, at current level, we are recommending short call on OBC with a stop loss above Rs 211 for downside target of Rs 197," he added.
Disclosure: Analyst does not have personal holdings.
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