Sukhani's view ICICI Bank, OBC

Sudarshan Sukhani of s2analytics.com shares his view on ICICI Bank and Oriental Bank of Commerce.

Sukhani told CNBC-TV18, "ICICI Bank went into a consolidation rather than a correction after the big rally in banks. The Nifty corrected 180 points but ICICI Bank did not. It just moved around and yesterday it broke out to new highs for this uptrend. That is bullish in different respects. It will be an outperformer and that seems to be working out. So today assuming that the market gain more traction even after the gap up, ICICI Bank should be a big winner."  
He further added, "We were suggesting one should go for Bank Nifty as a long or a short idea rather than individual banks because buying the Bank Nifty is easier. It is becoming very difficult to pick on independent public sector undertaking (PSU) banks or others for buying. Oriental Bank of Commerce is fairly downbeat. Yesterday it broke down from support levels after a rally but if the markets are supportive today the stock may not collapse.  But it still remains a short selling idea. Assuming the markets turnaround, do not cross 5,300, Oriental Bank certainly would be in a much deeper decline." Disclosure: I have no holdings in the above stocks.