SP Tulsian positive on SBI, PNB, BOB

Tulsian told CNBC-TV18, “I am taking the positive view on all the PSU banking stocks largely the larger ones. One could be the PNB, second is Bank of Baroda and third is the Canara Bank. I have seen today also you have seen the PNB and Bank of Baroda getting corrected by about 1.5-2% but that could be the rub off effect of the negative sentiments having built up for the SBI.”

He further added, “I don’t see much fall in the Bank Nifty, if I just go by the benchmark indices I don’t see it falling furthermore than by 2-2.5% as I said that 10000 looks to be a good support. I don’t know from thereon again on a rebound or for recovery back to 10500-10600 how much can be contributed by the private sector banks. Can we see again Axis Bank, ICICI Bank and HDFC Bank continuously moving up? So in that situation we may see a halt on the private sector banking stock valuations and probably these larger ones like PNB, Bank of Baroda, SBI and Canara Bank can start again participating in that. Whether that happens in next couple of days or whether that takes one week or so. But I will be keeping my positive stance on three large public sector banks that is PNB, Bank of Baroda and State Bank of India.”