Buy UCO Bank, Dena Bank on dip: M Thacker

Buy UCO Bank, Dena Bank, IndusInd Bank and Vijaya Bank on dips, says Mitesh Thacker, Technical Analyst, miteshthacker.com.

Thacker told CNBC-TV18, "On the midcap banking stock we have been very positive. All these stocks have formed very bullish formations for the last few weeks and now they are giving breakout above these kinds of patterns. So UCO Bank, Dena Bank, IndusInd Bank and Vijaya Bank all these stocks have got atleast 25-30% upside left into them. So this will happen over the next three-six weeks. But I think these stocks would be very good and will outperform the markets for the next couple of months. So I think very clearly we will recommend buying on every dips and as well as holding on to long positions for atleast 25-30% gains.”