Amit Gupta of ICICI Direct told CNBC-TV18, “We saw a big build up of short positions DLF and Larsen and Toubro (L&T) on Friday. We are continuously seeing the build up of short positions in these stocks. In State Bank of India (SBI) also we have seen the shorts coming up. What may happen till you are into this range bound to bearish bias kind of scenario you will see these stocks not performing.”
“The private banking possibly is going to outperform the PSUs in the coming sessions, because there is not short build up at least. If you look at HDFC Group (HDFC Bank and HDFC) there the outperformance is likely to continue," Gupta said.Discover 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!
