Manoj Murlidharan Vayalar, IIFL is of the view that one can buy ICICI Bank with a target of Rs 1084 and IndusInd Bank with a target of Rs 423.
Vayalar told CNBC-TV18, “Not only in the Nifty but we are looking at the sector as a whole because every sector has a percentage weightage to the market open interest so, we feel metals, banks and infra these are the three which have been more vulnerable and money can flow into these pockets first and it can get into a steady account in all the sectors.”
He further added, “Specially banks, I feel the best pick is ICICI Bank and IndusInd Bank would be the second pick which we feel. If it is a trading call, IndusInd Bank somewhere close to Rs 406 keeping a stop loss at Rs 396. We are expecting Rs 423 as on expiry. ICICI Bank, I feel it would be at a level, it can be at a level rather Rs 1084 level, keeping a stop loss at Rs 991 and what we are expecting.”