HDFC Bank can test Rs 575, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.
Thukral told CNBC-TV18, "Banking is one area where the concern has started coming in because it’s one thing that Bank Nifty has not broken yesterday also 10,000. It’s not gone below that. But as I said like Nifty Bank Nifty, the rollover cost is starting to dip which is giving me a slightly concern."
He further added, "Among all the banks, the only bank where cost still is intact is HDFC Bank, which has always given preference. So if somebody wants to take a bet on banks I think HDFC Bank still holds as the best bet you can see, to keep a stop loss of Rs 535-540 you can easily see it going up back to Rs 575. But apart from that specially the PSU banks and SBI, the rollover cost is definitely now coming down which is not a very encouraging signal for the market."