Yes Bank is a good stock from a long term perspective, says Rahul Mohindar, Director, viratechindia.com. Mohindar told CNBC-TV18, "There are two thoughts on banks. One is you can't go terribly wrong, if you are getting into UCO Bank right now at around Rs 55 mark I don't think your downside is going to be too steep but at the same time the whole bit is we could stagnate a bit at these levels."
He further added, "My only worry is if you are really trying to time it out, I don't think that can be perfectly done at this point. So, one has to be ready to get into it even at lower levels. So one could enter with a staggered approach and if you have time frames of beyond 3 months, so Canara Bank and UCO these are two good stocks to really look at from that perspective. But one has to keep that cushion that buy a bit now and if the stock slips 5-6% we buy the next bit."
"Yes Bank is a good stock from a long term angle as well. Things are changing on this chart, so clearly in the short term Yes Bank could be a very strong candidate."
