Stay with ICICI Bank, SBI: Tulsian

Investment Advisor SP Tulsian is of the view that one should remain invested in ICICI Bank, SBI for long term.

Tulsian told CNBC-TV18, "Again I do not think that one can really go long on the banking stocks considering the interest rate hardening and the interest sensitive sectors taking a lot of beating. In fact one could always include the realty and the automobiles also in this category. The only best option for the traders to go for these stocks is to go short and whenever one see the short coverings; probably one could always go short on those counters. But again in both the events, I think going short or going long can prove to be very dangerous in this series because shares having already corrected to these levels cannot really give you one-way direction either way that whether you go short at these levels or you go long on the shares getting corrected."

He further added, "For the investors, those who have a little long-term horizon, you cannot really write them off just like that because we do know that the interest rate hardening is bothering them, which is in the form of the losses coming in the form of MTM. If somebody has the investment call, they can definitely remain invested ICICI Bank amongst the private sector and SBI amongst the public sector are the largest banks, which has come really at a very good valuations and one could really make an entry at these points provided they have a long-term horizon. But for the traders I think this maybe bit risky to take a call on the either side."

Disclosure: Analyst doesn't hold the above stock.