Sukhani's view on Pantaloon, banking stocks

Sukhani told CNBC-TV18, "Pantaloons’ upswing ended when it reached Rs 200, a little shy of that. It made a distribution, it broken down from the distribution. It is looking at much lower levels, so we want to sell Pantaloon. Shopper’s Stop is a different story, the charts are much better when we compare Pantaloons and Shopper’s Stop."

He further added, "The interesting part in the bank Nifty is the segregation of banking stocks. There are some stocks mostly PSU banks that have suddenly collapsed, Central Bank for example and which are showing deep signs of distress and there are some others where I would say that we should be looking to buy them whenever this decline ends. So banks are giving divergent views, most of the public sector banks are now showing signs of distress and the same is not true of the private sector banks. So I think the approach needs to be different.The two favourite buy-on-declines are Axis Bank and ICICI Bank and then the other two IndusInd and Yes Bank are also in the same category. So I sometimes hear that the valuations are stretched maybe the market I think like is and these are the ones that we accumulate."