Rahul Mohindar of viratechindia.com is of the view that one should invest in banking space as bounce back from key support levels is expected.

Mohindar told CNBC-TV18, "Banking is one space, which seems to be giving us a sense that it is possibly trying to make a bottom. You’re seeing some buying, which is coming in at lower levels. Too quick to call it a bottom but again the signs are visible. SBI or an ICICI Bank at these levels, your downsides are really caped. From a long-term point of view, if you have the money I would put in 50% of my trade at these levels. So, I am comfortable buyer even in some of the midcap banks. If you look at Vijaya Bank or Dena Bank, one is getting them at prices which you possibly would have got them may be a year back but again that’s not the only reason. The reason is that we are seeing a bounce back from key support levels and that’s why I would like to invest into them."

Disclosure: It is safe to assume that analyst personally doesn't hold any of the stocks. However, he may have recommended some of them to his clients.