Tulsian view on Arvind, UCO Bank, PNB, SBI

SP Tulsian of sptulsian.com view on Arvind, UCO Bank, PNB, SBI.

Tulsian told CNBC-TV18, "Purely from a trading point of view, I may go with Arvind because the level of Rs 70 for the stock seems to be quite strong. There was renewed trading interest in the stock on correction in price-levels. So it looks a good share from a trading point of view, but on other two stocks, investors need to have a fundamental or investment time-horizon of at least 3-6 months." He further added, "I will take short positions on the Bank Nifty because I expect the Bank Nifty, which is now ruling at around 9700, to fall to 9400, on the kind of long positions built up specially in UCO Bank, PNB, State Bank of India which are all looking weak. I may not be so bearish on the stocks like Axis Bank, ICICI Bank and HDFC Bank. Though they look weak and investors can take short positions for a gain of about 3-4% in next couple of days. If investors want to go short on the Bank Nifty, they can look to cover it at around 9500. But the moment the Bank Nifty approaches 9400-9500, it makes a very good entry point."