Wednesday, 16 September 2009

Buy Canara Bank, says Sudarshan Sukhani

One should buy Canara Bank, says Technical Analyst, Sudarshan Sukhani.

Sukhani told CNBC-TV18, "Canara Bank has been a good performer but it has not gone to the excesses – I will not call them excesses, it has not run up as much as Bank of India or Bank of Baroda, which means there is a lot of potential in Canara Bank to do what the other banks are in the process of doing.”

He further added, “Canara Bank is a stock that has seen back-to-back gains. Normally I would have said buy on dips but banks are not buy-on-dips candidates. This rally can continue not only today but for the next few days. So you should go ahead, buy Canara Bank, keep a stoploss if you are a day trader, you have a target. If you are a positional trader, you can just hang on to Canara Bank and wait patiently for the next few days.”

Source: Moneycontrol

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.