Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, "Axis Bank looks strong. It has been continuously sustaining around Rs 1300 mark. If it is going to cross this Rs 1300 mark then we are going to witness a strong short covering. So this is more of a short covering rally which is happening in the stock. We may see another Rs 25-30 upside in a day or two, but positionally Rs 1360 would be the possible target in Axis Bank."
He further added, "As far as ICICI Bank is concerned, we still need to wait for a clear buildup of positions. So as of now if one has to take a bet on the private sector bank then Axis Bank would be the preferred bet. In the midcap space, Karnataka Bank is one stock which looks quite strong for a target of Rs 125 on the upside."
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
