Moneycontrol
Feb 17, 2017 11:17 AM IST | Source: CNBC-TV18

Pick Kotak Mahindra Bank: Ashwani Gujral

According to Ashwani Gujral of ashwanigujral.com, one may pick Kotak Mahindra Bank as it will go to Rs 1000.

Ashwani Gujral of ashwanigujral.com told CNBC-TV18, "Any chart patterns on Axis Bank and Kotak Mahindra Bank, I don’t think that is too relevant today because HDFC Bank is likely to pull up all of these guys. I think Kotak Mahindra Bank between the two is a better bank because that is outperforming and probably if we can cross Rs 835-840, that gets to a fresh high. So, maybe it will get to Rs 1,000 quicker than Axis Bank does 20 percent. However, given this sort of scenario, I think today all private banks should do well."

"This is a good time to get out of HDFC Bank if you have long positions, etc. because the futures are indicating that this may not sustain. So, even taking short positions may not be such a bad idea because after the opening there is hardly any follow through. Even HDFC Bank is making a low of the session. So, we have taken short positions, maybe it works."

"Infosys - the entire response to that buyback buzz, etc has been fairly lukewarm. So, maybe on declines you can buy around Rs 980, but I don’t think that buyback is really fuelling the IT index or these largecap stocks," he added.
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