Short PSU banks: Hemant Thukral

Short PSU banks, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.

Thukral told CNBC-TV18, "If we check out bank Nifty levels, the problem is that bank Nifty has been outperforming Nifty and it has not broken the crucial support of 11,200, which Nifty has given away. So keeping that thing in mind, bank Nifty looks positive and it is the only sector which can take Nifty forward going forward."
He further added, "But within that space also I still feel the PSU banks are the weakest links like SBI and Bank of India is another one which has seen huge shorts on Friday piled up. So once Bank of India we have a target now of Rs 250 on the downside. Similarly, Canara Bank is another one. So PSU banks should be targeted to going short and private banks should be utilized opportunities to buy into but right now, I will be going short on the PSU bank side."