Expect upside in ICICI Bank, Axis Bank: Sukhani

Expect upside in ICICI Bank and Axis Bank, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I would not set a target on the Bank Nifty yet. We have had literally two days of gains, yesterday mild gains and today of course whatever we have. It’s too early for new patterns except for the fact that momentum is on the upside."
He further added, "Axis Bank and ICICI Bank fell yesterday to their lowest support levels, below which they would have started another downtrend. Luckily for the banks the bounce today has created a second round of support there. So in ICICI Bank and in Axis Bank I would expect significant upside."
"I think IT has done its bit at least for the time being. That doesn’t mean the trend has changed, it’s very much up, but after these strong rallies the chances are next week it will pause and some other sectors will move up. So we are looking for example on Monday maybe stocks like Cairn India or even Jubilant Food which did not do anything today, but is in a strong uptrend, these are the kind of stocks that should be focused on rather than IT."