A bit of profit booking advisable in Uco Bank: Angel Broking

Shardul Kulkarni, Sr Technical Analyst, Angel Broking, in a chat with ET Now talks about Suven Life Sciences, Everest Kanto and Uco Bank.

Do you think Suven Life Sciences, Everest Kanto and Uco Bank will sustain for a day trade?

Everest Kanto has moved up on strong volumes but it is just one day move which you have seen. Ideally one would like to see the stock going beyond 135 and sustaining above 135 levels in Everest Kanto. If the stock does manage to go beyond 135, then a closing beyond 135 will give strong conviction that the stock might move up. The stock faces decent resistance at 158 mark. So up to 158, there can be a move in Everest Kanto.

Uco Bank has been showing good moves but presently I would advise a little bit of profit booking, at least partial profit booking in this particular counter. The stock has run up from the levels of 55-56 to 72-73 and it continues to move up. If it gives you a correction and then moves up, you have strong conviction, you will get a buying opportunity also. Probably to those 63-64 levels if it gives you a dip, then it would be a good buying opportunity. It is a strong stock. I do not track Suven Life Sciences.