Sell HDFC Bank, Yes Bank, Axis Bank: CA Rudramurthy BV

Name: Sell HDFC Bank, Yes Bank, Axis Bank: CA Rudramurthy BV
Uploaded: 2018-03-08T12:16:10+05:30
Description: CA Rudramurthy BV, Head-Research at Vachana Investments recommends selling HDFC Bank, Yes Bank and Axis Bank.

CA Rudramurthy BV, Head-Research at Vachana Investments recommends selling HDFC Bank, Yes Bank and Axis Bank.

CNBC-TV18

March 08, 2018 / 12:17 IST

CA Rudramurthy BV, Head-Research at Vachana Investments told CNBC-TV18, "I will be selling HDFC Bank. This bank has been the lone bank which has been supporting Bank Nifty for a while and it has broken its crucial support yesterday. So, HDFC Bank for me looks the weakest. I am keeping stop loss at Rs 1,850 and I am looking a target of Rs 1,760. These banks slowly will come out."

"Yes Bank for me is a clear sell. So, one bank if I have to pick up right now at current price and sell it heavily will be Yes Bank. The stock in futures can be sold for a target of Rs 280 and have a stop loss of Rs 305 for this sell call."

"I have a sell call on Axis Bank futures for target of Rs 496 with a stop loss of Rs 516," he added.

CNBC-TV18

first published: Mar 8, 2018 12:16 pm

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