SBI, ICICI Bank top pick in banking space: Sukhani

Sukhani told CNBC-TV18, “Some of the PSU banks are suggesting weakness. While the bank Nifty broadly as we have seen now we are saying it is willing to go up. So yesterday, also I had given the same suggestion that rather than go for individual banks now, it is much better to go for the index because the broad theme currently is that the bank Nifty looks cheerful atleast for some upmove and I am not able to time the specific PSU bank for buying or selling.”

He further added, “The ones that are sure for buying are State Bank of India (SBI) and ICICI Bank. These are two banks that are good on the long side and for some of them it is a little bit of confusion.”

“In this market, we want to stay with stocks that have already performed well because the ones that are not doing well are going behind. So Kotak Mahindra Bank is a good chart. Every dip here should be bought and there is no reason why it cannot go up, we must remember that ICICI Bank initially quoted at Rs 10 and is now a Rs 1,000 eventually, I don’t mean that will happen but good stocks can go up more than we imagine.”