Axis Bank can test Rs 750-760: Mohindar

Rahul Mohindar of Viratechindia is of the view that above Rs 710, Axis Bank can test Rs 750-760. If one gets pullback to about Rs 630-640, should one get a correction down to those levels, that’s a support, go out and buy the stock with a stoploss at Rs 620.

Mohindar told CNBC-TV18, "There are some banking stocks, which look pretty good and one could see a come back from banks. Even in the morning, today, SBI was holding out a fair bit although not holding out now. But if one is looking at some of the private sector banks that could be interesting. So if we look at something like an Axis Bank, if one gets pullback to about Rs 630-640, should one get a correction down to those levels, that’s a support I would like to go out and buy the stock with a stoploss at Rs 620. I see the first hurdle at around Rs 710, above which the stock could even give us a medium-term upsurge to Rs 750-760."

Disclosure: Analyst doesn't hold the above stock but have recommended to the clients.