Dhanlaxmi Bank, Lakshmi Vilas Bank look good: Devang Visaria

Devang Visaria, Chief Strategist, Devangvisaria.com talks to ET NOW about India Infoline, Dhanlaxmi Bank and Lakshmi Vilas Bank.

We are seeing a bit of an activity into India Infoline (at 116) and some of the smaller banks. The likes of Dhanlaxmi up 13-14% in four-five days alone. What are you recommending?

On India Infoline, at 118 would be a crucial level on the upside. If it is able to cross 118, you could have a good spike to 130 also. So on a move past 118, you could initiate longs with a stop of closer to 114.5. On the other stocks, Dhanlaxmi Bank and even Lakshmi Vilas Bank, they are looking very strong on the weekly. Last week, gains have really put in a lot of momentum into these charts and these stocks look likely to head back to the 52-week highs. For Dhanlaxmi Bank, 52-week high was closer to 178. So that is a good trading upside for the stock even from these levels. Once it gets past 180, you could have possible targets of 220-225. So as an investor, I would like to buy these stocks, Dhanlaxmi Bank and even Lakshmi Vilas Bank. Both look good for at least 40-50% returns over the next three or four months max to max.