The market continued to advance further on Friday on sustained buying by investors in realty, oil and gas, banking and metal stocks on the back of higher Asian cues. Amidst rising concerns of a further hike in interest rates by Reserve Bank of India, Prashastha Seth, senior vice-president of IIFL Private Wealth said that Indian banking stocks look positive with a long-term horizon as the banks will give a boost to the country's economic growth story.
Although Index big boys-Infosys, Reliance, State Bank of India and ONGC- reported lower-than-street estimates, Seth continues to remain bullish on these stocks with a long run perspective, "any of the heavyweights' shares bought at current levels will fetch decent returns in the next 12 months," he added. Below is the verbatim transcript of his exclusive interview with CNBC-TV18's Sonia Shenoy and Mitali Mukherjee. Also watch the accompanying video. Q: What is your call on Reliance Industries?
A: Reliance is expected to trade in a narrow range. On the downside, Rs 900 will act as a strong support and Rs 1050 will be a stiff resistance on the upside. Unless there
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