Pick private banking stocks to go long: Bhavin Desai

Bhavin Desai of Motilal Oswal told CNBC-TV18, "We started this expiry on a very interesting note. We had 1/3rd of stocks rolling in with longs, 1/3rd rolling in with shorts and 1/3rd being neutral. IT in this entire scheme of things was the sector which had neutral stance. We saw short coverings, so short was out and the sector was light, so neutral was the call."

Desai further added, "Let’s see if we see some amount of long positions getting built around these levels. We wouldn’t mind sticking our neck out and actually going ahead long on the IT at this point in time. We are more or less neutral on the sector. I would rather pick something from a private banking to go long. Right now banking is trading with sufficient amount of long bias than the IT space."