UCO Bank showing lot of momentum, target for Dena bank is 110-112: Devang Visaria

ET now spoke to Devang Visaria, Chief Strategist, devangvisaria.com for a technical check on UCO Bank and Dena Bank.

On the charts Dena Bank and UCO Bank, what do you make out of it do we get to 112 on UCO, Dena 115?

I think yes possibly on a medium term basis you could get to both those target levels from say a one month perspective. UCO Bank definitely showing lot of momentum rather than Dena Bank right now and in fact momentum is also there in the price. It's already up some 16% for this month itself.

Dena Bank on the other hand is just giving a fresh breakout and has ventured into fresh 52-week highs and is consolidating over that so I think as a trading call with a better risk reward ratio you could possibly take a bet on Dena Bank with a stop just below 96 you could have a target of 110-112 for Dena Bank possibly as a one week time frame.