23 April, 2014 14:20 IST
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`Sell` Karnataka Bank on rallies Rs 140 for target Rs 120: Rahul Randeria
Source: IRIS (21-NOV-12)
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''Traders can sell Karnataka Bank on rallies Rs 140 for a target of Rs 120 with a strict stop loss placed below Rs 148 from perspective of 4-5 weeks,'' said Rahul Randeria, technical analyst, IDBI Capital.

"Yesterday, KTK Bank has formed a Bearish Candle on the daily charts. The rally has exhausted breaking the rising trend line support in the overbought territory. On the oscillator's front; RSI & MACD are placed with a negative divergence on the daily charts,'' said Randeria.

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