Axis Bank, YES Bank top picks: Jai Bala

Jai Bala of Cashthechaos.com told CNBC-TV18, "I am bullish on private sector. I would rate Axis Bank as the top pick along with YES Bank. In the public sector it will be SBI but you need to see a sizeable correction something like 15 percent to come through. Once that is through I think the short term froth, I would assume would have got liquidated and that would be an ideal entry point."

On Tuesday, Axis Bank closed at Rs 499.30, down Rs 18.30, or 3.54 percent. It has touched an intraday high of Rs 514 and an intraday low of Rs 497.05.