UCO Bank fell 6.18% to Rs 34.15 on profit selling after recent steep gains.
Shares of UCO Bank soared 79.31% in the past ten sessions.The stock outperformed the market over the past one month, soaring 117.78% compared with 0.50% decline in the Sensex.
The scrip outperformed the market in past one quarter, climbing 180% as against Sensex's 3.74% rise.
The scrip had also outperformed the market in past one year, jumping 162.84% as against Sensex's 7.62% rise.
On the technical front, the stock's daily RSI (relative strength index) stood at 84.10. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.
On the daily chart, the stock is trading above its 50, 100 and 200 days simple moving average (SMA) placed at 17.88, 14.88 and 13.23, respectively. These levels will act as crucial support zones in near term.
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UCO Bank is a commercial bank. Its segments include treasury, corporate/wholesale banking, retail banking and other banking operations. It offers personal banking, corporate banking, international banking and rural banking services. As on 30 September 2022, the Government of India held 95.39% in UCO Bank.
The PSU bank's net profit jumped 145.6% to Rs 504.52 crore on a 6.6% rise in total income to Rs 4,964.83 crore in Q2 FY23 over Q2 FY22.
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