Karnataka Bank

I bought Karnataka Bank shares (100 shares for 122 Rs/-). Now the price is 110/- Rs. Can any one suggest the future of Karnataka Bank.

Thanks in advance
Karnataka Bank has risen very smartly from 65 odd levels to current levels when there were rumours of Anil Ambani on the lookout of buying a bank & KTK Bank being one of the best takeover candidates.

However, the run-up dired up as soon as a denial for the same was reported. Though the bank was very much able to maintain the leads it made & hsn't gone down much from its highs touched on n after the news.

To be fair the bank is pretty decent though is facing (as usual) a lot of selling around 120-125 levels which is nothing new for this scrip. Earlier also all its attempts to go past 128 convincingly have more or, less failed.

I'd advice an exit around 120-122 with a SL of 105 on downside.

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