Vijaya Bank a buy in banking space: Angel Broking

Shardul Kulkarni, Sr Technical Analyst, Angel Broking, in a chat with ET Now talks about the banking stocks.

We have been discussing the banking space on the whole and you have a buy call on a Vijaya Bank.

Yes. If you see the smaller banks, they have been doing very well in the past few days. We had a buy call on Karnataka Bank. We also have currently two buy calls on UCO Bank as well as Vijaya Bank. Vijaya Bank is one stock that we really like. If you actually see the monthly charts as well as the weekly charts, they give you clear signs that yes, the banking space, especially the small-cap banks are expected to do really well going forward. So Vijaya Bank is one of those picks that can actually take.

You can buy the stock on dips between Rs 60-58, the stop loss on the lower side is 56 and the target is of course 65 or above that. Timeframe is around 3-5 weeks. Going forward even if you look at it from an investment perspective, we feel that these banks are expected to do really well going forward. So any investor or trader both can trade or invest in these particular banking stocks.