Buy Axis Bank, HDFC, DCB at lower levels: Baliga

Ambareesh Baliga, Market Expert advice traders to buy Axis Bank, HDFC and DCB at lower levels.

Baliga told CNBC-TV18, “BHEL numbers were disappointing; I was also expecting flat number but the numbers were clearly disappointing. Over the weekend I was saying possibly if it comes to levels of Rs 230-232 one could buy but looking at the numbers one could see the stock lower at Rs 210-215 levels.”
He further added, “Even before the result season started that I have said is there will be a clear divide between the private sector banks and PSUs especially because of NPAs and that is clearly playing out. This will not be limited to this quarter. I think you will see this effect possibly over the next 1-2 quarters looking at the bad debts which are coming up. So I would be looking at buying into the private sector banks like Axis Bank, HDFC, DCB at the lower end and IndusInd Bank.”