Buy Axis Bank, says Abhijit Paul

Abhijit Paul, Founder of Alphative Advisors LLP told CNBC-TV18, "The kind of move within the Bank Nifty as well as the banking stocks are mainly because of the fact that there have been quite a amount of shorts in it. Within the PSU names State Bank of India (SBI) and Bank of Baroda are the ones which can extend a little higher from hereon and within the private sector banks, I think the best pick is Axis Bank."

On September 6, Axis Bank closed at Rs 953.40, up Rs 25.95, or 2.80 percent.It has touched an intraday high of Rs 962.00 and an intraday low of Rs 911.10. The share touched its 52-week high Rs 1,549.00 and 52-week low Rs 764.00 on 20 May, 2013 and 04 September, 2013, respectively.Currently, it is trading 38.45 percent below its 52-week high and 24.79 percent above its 52-week low.Market capitalisation stands at Rs 44,722.36 crore.