Shardul Kulkarni of Angel Broking told CNBC-TV18, "I will sell Punjab National Bank (PNB). We are seeing that public sector undertaking (PSU) banking stocks have clearly not participated in this rally. If one takes the case of PNB, Bank of Baroda (BoB), Bank of India (BoI), State Bank of India (SBI) for that matter, only HDFC Bank and HDFC are the two stocks wherein one clearly sees that fund managers and portfolio managers are looking only at quality, they are not looking at other stocks."
"So PNB as per my analysis is a sell. I would look at going short on the stock once it falls below Rs 630 levels on the futures. Rs 643 would be my stop loss, I would look at Rs 600 or even lower targets in case of PNB July futures," Kulkarni said. Also Read: Bankers demand CRR cut or interest on it from RBIDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
