Buy Karnataka Bank, target Rs 128: Krish Subramanayam

Krish Subramanayam, Altamount Capital is positive on Karnataka Bank. The expert has recommended traders to buy the stock with a target of Rs 128 and maintain a stop loss at Rs 118 in intraday trade, he said. The stock has hit a low of Rs 120.30 and high of Rs 123.25 in trade so far. The scrip has recently moved above its 20-day and 200-day moving averages. The 14-day RSI at 68 is marginally below the overbought territory, suggested as 70.