Buy banking stocks on dip: Thukral

Buy banking stocks on dip, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.

Thukral told CNBC-TV18, "I again see the positivity in banking stocks being maintained. It’s okay that after RBI policy you have seen some profit booking. Yesterday, Bank Nifty saw itself some profit booking, open interest coming down with the prices coming down. So clearly there are signals of profit booking, but I don’t see them breaking down."
He further added, "I again see any cut in these banking stocks of 2-3% due to profit booking should be utilized as a buying opportunity, for me the cost of all banking stocks that even includes smaller banks like Dena Bank, Vijaya Bank that is very positive. So till the cost is positive slight profit taking you should take in the strides and one should buy on dips. So I will continue to buy on dips these banking stocks and I still feel that Bank Nifty can move up back to say 10,750-10,800. So there is another room of 150-200 points on it, so I will continue to recommend buying on dip."