SBI, Axis Bank look attractive for investment: Mohindar

Rahul Mohindar of Viratechindia is of the view that from an investment angle, State Bank of India, Axis Bank  and Kotak Mahindra Bank are certainly very attractive on any decline.

Mohindar told CNBC-TV18, "At these levels definitely we have come to a very good support levels, Axis Bank touched its previous bottom. So from a longer-term point of view I think almost all the banks whether one looks at the frontline like State Bank or the private players like Kotak Mahindra Bank or Axis. From an investment angle they are certainly very attractive on any decline, I would say that from here your downsides are restricted but looking from a momentum point of view, someone who is a day trader or someone who is a short-term trader, I think it would be wrong to say to jump into them right now immediately after the kind of upmove that we have seen. I think it holds steady for another 4-5% gains and once again the market will pause and you would get the kind of a consolidation or a sideways move down to once again reenter it. So I would patiently reenter at lower levels, but from a traders point of view certainly hold."

Disclosure: Analyst doesn’t hold any of the stocks discussed.