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.