Axis Bank has target of Rs 900: Gujral

Technical Analyst, Ashwani Gujral is of the view that Axis Bank has target of Rs 900.

Gujral told CNBC-TV18, "I think private sector banks are bouncing the hardest; Axis Bank is probably looking for target of about Rs 900, Kotak Bank is looking for a target of about Rs 700, HDFC Bank has shown much more strength than a lot of other banks and that could go up to Rs 1,300-1,350."

He further added, "Clearly State Bank of India, SBI has started showing strength and that is probably headed to Rs 1,600-1,650. So overall lot of banks would show strength, midcap banks would have those 10-12-15% type of moves. But I do not think any bank would make a new high. These are all 50% type of corrections from the falls that they have had."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the stock/sector.