Salil Sharma`s view on banking space

Salil Sharma, of Kapur Sharma & Co shares his view on banking space.

Sharma told CNBC-TV18, "Bank Nifty is still steadily above Rs 9800 level where the 200 DMA of that index lies. So here again there is total confusion. If one see the movement of ICICI Bank yesterday, it was testing the lows at Rs 825-830, but today the recovery if it continues and we get a closing above Rs 870 then it could be worth considering for long positions." He further added, "The PSU banks are looking much weaker than their private sector peers and the better looking charts are of Kotak Mahindra Bank or of IndusInd Bank, these two definitely stand out as compared to the rest of them."