Ambareesh Baliga of Edelweiss Financial Services told CNBC-TV18, "One should be possibly selling some of the public sector undertaking (PSU) banks. I think there would be further weakness in State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda. However, this is short-term because we do not see a downside of more than 5 percent or 6 percent in most of these PSU space. So, it would be a short call."
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