Buy BoB, short HDFC: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "Financials will be the key to this market going forward. The way already rollovers have started happening in individual banking stocks, Bank Nifty itself has a higher rollover cost than Nifty. It is clearly suggesting that it will be Bank Nifty, which will be the main strength pillar going forward. So financials will be the key."

"Within the financials, if you see the individual stocks -- only sign of weakness that I can see within the financial is Housing Development Finance Corporation (HDFC). The stock had run away very sharply. Now it is retracing back all the gains. In fact, on Friday, we have seen shorts accumulated around 10 percent. For me, importantly, it has gone below Rs 1,060 so that is a slight sign of worry. So I think it may have to retest Rs 990-1,000 on the downside to regain that support level. So HDFC is a short candidate for me within the financials and is the only weak counter," he said.

"The counters which are suggesting big strength, one of them is Bank of Baroda (BoB), among all the public sector undertaking (PSU) banks. I think 5 percent open interest (OI) is added, it has already shown 19 percent positions being rolled and importantly, now the stock seems to be heading towards that Rs 950-960 zone which is the next resistance zone. So Bank of Baroda qualifies as a buy for me and HDFC as a sell but HDFC is the only financial within all the financials, which is showing some signs of weakness maybe because it had run up already very sharply."