Mohindar told CNBC-TV18, "Yes Bank on a long term formation is fantastic; it's a good stock to hold in your portfolio. Downside risk would exist to the tune of 10-15% on the short-term, more on account that the market looks a bit weary and I think maybe the index could correct a good 200 points even from current levels on a Nifty basis."
He further added, "Banking as a sector looks good. I personally like the public sector banks from a long-term outlook but in the private sector if I had to cherry pick 2-3, I think Yes bank would definitely be one of those. I think the stock could clearly go to something between Rs 300-320 with a one year kind of perspective."
" Axis Bank seems to be very fully priced in. Even if I look at it technically, I don't see that kind of headroom in that stock. So Yes Bank is a good pick, it's a good stock to stay with even if you are getting in at Rs 230 and you kind of average on the way down to about Rs 200-210 if those levels do come in, I think it's a good investment to make."
