Expect lower levels in banking stocks: Bose

Technical Analyst, Rajat K Bose is of the view that one can expect lower levels in banking stocks.

Bose told CNBC-TV18, "As far as the banks are concerned, first they sacrifice their 2007 gains, now they are on to sacrificing their 2006 gains. So perhaps one would see lower level there. Auto stocks as per my cycle studies it would actually bottom out in 2009. But it’s too difficult to expect these counters to show a bounce back immediately.”

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