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Jul 27, 2012, 07.27 PM IST
Devangshu Datta, Consulting Editor, Business Standard is of the view that, one can short Bank of Baroda (BOB), Punjab National Bank (PNB), Union Bank of India and State Bank of India (SBI).
Devangshu Datta, Consulting Editor, Business Standard is of the view that, one can short Bank of Baroda (BOB), Punjab National Bank (PNB), Union Bank of India and State Bank of India (SBI).
Datta told CNBC-TV18, "Today the public sector banks are all being sold heavily and private sector is doing reasonably well. Axis Bank , HDFC Bank , Yes Bank , IndusInd Bank and ICICI Bank have all done reasonably well today." He further added, "I would look at a paired strategy, where I was going long on a basket of about 4 bank stocks and short on a basket of 4 PSUs. Something like short Bank of Baroda, Punjab National Bank, Union Bank of India and State Bank of India (SBI) as well. Go long on a set of about 4 banks. But this is very short-term. On the 31st July, you are going to have RBI takes its credit policy position and if they don’t cut rates I think the whole sector will probably drop."
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