Syndicate Bank may test Rs 180-185: Sahil Kapoor

Sahil Kapoor, AVP - Retail Capital Markets at Edelweiss Financial Services feels that Syndicate Bank may test Rs 180-185.

Sahil Kapoor, AVP - Retail Capital Markets at Edelweiss Financial Services told CNBC-TV18, " Syndicate Bank is outperforming most of the other stocks according our quantitative models and clearly has given a breakout on a weekly and a monthly chart as well. Rs 158-160 was a important level which it breached yesterday, from here move towards Rs 180-185 looks very much likely."

He further added, "The breakout is on very strong volumes, the volumes are higher than about six months average, which is indication that the current rally has much more legs to run. So it is a good bet for a short term. Stop loss can be placed below Rs 150 and target should be about Rs 180-185."

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