Kotak Mahindra Bank, ICICI Bank best picks: Sukhani

Kotak Mahindra Bank and ICICI Bank are best picks in banking space, says Sudarshan Sukhani, s2analytics.com.

Sukhani told CNBC-TV18, “Whenever the opportunity comes the next opportunity will be to buy Kotak Mahindra Bank and ICICI Bank and we will add Axis Bank and HDFC. I have been trying to explain for many weeks that the four blue chip private sector banks are the best investment opportunities available. We should simply ignore the fact that people tell us they are overvalued – that may well be but they are the best picks technically on the charts in this environment.”
He further added, “NHPC charts do not suggest that a big move is coming. Sometimes, volume can be attributed to many other reasons that we find out later but it is not a stock that I would go and buy except maybe as a person who wants 10-15 percent return over one year, more or less an assured return, in that case NHPC is probably a good idea but otherwise for anyone looking at momentum and making gains on the market, NHPC is not the right stock.”