IOB, Dena Bank look attractive: Rohit Shinde

ET Now spoke to Rohit Shinde, Asst. VP, Technical Research, CD Equisearch Pvt Ltd, on his views on the midcap banking stocks.

ET Now: From the financial space, in the midcap banking stocks particularly, which is your top pick?


Rohit Shinde: I like Indian Overseas Bank. What I can see on the charts, it has moved approximately to 95 levels. It is showing good strength.

It has given a good up move from the lower levels of 85. The swings are in favour for this stock. We can expect a target of 102 and then keep a stop loss of approximately 93 levels.

The second stock I would recommend would be Dena Bank. What we can see approximately it has also moved very strong from 75 levels. This stock is quoting at approximately 87 levels. So you can again get an up move up to 92 levels in the short term. We can keep a stop loss of 85.