Axis Bank looks good for long term: Tulsian

Investment Advisor SP Tulsian is of the view that Axis Bank is looking good for long term.

Tulsian told CNBC-TV18, "The result that Axis Bank has posted for Q1 it is quite a good result may be FY09 we will see an EPS of close to Rs 50. There is a talk of the dilution of the stake by the UTI, so in that situation definitely the prices that will be a positive trigger in the next three months. We are seeing a host of bank reforms being pushed by the Finance Ministry that will also help."

He further added, "If one has a trading approach I think one can ride the momentum for the next couple of days and if share moves closer to Rs 848-850 at that level one can move out and then re-enter because we see huge volatility in the stock, may be when the result was announced last week, the share price dipped below Rs 600 inspite of the results were quite good. So you see huge kind of volatility in the stock. So Rs 848-850 can be the level at which one can exit and then reenter at about Rs 757-760. But in the long-term if one has 6-8 months horizon then it is a very good stock."

Disclosure: Analyst doesn't hold the above stock.