Avoid JSPL, prefer ICICI Bank: Akshata Deshmukh

Akshata Deshmukh of Trading Networth Stock Broking told CNBC-TV18, "If it were a short-term bounce back then somebody could play a Jindal Steel & Power (JSPL) from current levels. One can look at a bounce still about 200 DMA but considering the fact that too much negative newsflow is coming around JSPL especially with exposure in the power space as well as the steel space, I guess it is avoidable completely."

She further added, "One could look at largecap bank like an ICICI Bank, L&T, and in OMCs, HPCL, BPCL are likely to do phenomenally well in the next couple of years, even ONGC for that matter is poised for a strong run up in the short-term to near-term. So I guess these are the few names that we could focus on and look at a better portfolio construction than take a risk in high beta name like JSPL."