Sell UCO Bank With Stop Loss Rs 135

Sell UCO Bank With Stop Loss Rs 135Technical analyst Mitesh Thacker has maintained 'sell' rating on UCO Bank stock with a 3-4 day target of Rs 119.

According to analyst, the investors can sell the stock with a stop loss of Rs 135.

Mr. Thacker said that the investors can sell the stock as there are full chances of decline in the coming days.

Today, the stock of the bank opened at Rs 127 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 152.35 and a low of Rs 54.10 on BSE.

UCO Bank has registered a fall of 42.62% in its net profit to Rs 1,191.9 million for the three month period ended Sept 2010 as compared to Rs 2,077.2 million for the corresponding quarter of last year.

Interest made remained at Rs 27,352.3 million for the July-September period as against Rs 23,842.3 million for the same quarter of last year.

The bank recorded a surge of 14.72% in its interest income.

Interest expended recorded a fall of 6.73% at Rs 17,336.6 million for the period under review as compared to Rs 18,587.6 million for the same quarter of 2009.