Buy HDFC Bank, IndusInd Bank: Sahil Kapoor

Sahil Kapoor of Edelweiss Financial Services told CNBC-TV18, "We would relatively want to be in largecaps and in outperformers. So, first trade will be on the HDFC Bank. It has held on significantly well. If you look at the historical chart also, in most of the markets whether the market is in a bullish or a bearish phase there is a little chance that HDFC Bank slips below its 200-day average. It has been trading there for about four to five days. The stock appears oversold on short term charts as well and its relative strength index (RSI) has also gone oversold. So, it is a good entry point if the market has to bounce back. Being one of the highest weighted stock on the index, it will support the market. So, you could buy it in the range of Rs 985-995 and expect it to move to Rs 1,050-1,060 range.""IndusInd Bank is a relative outperformer. We had a hammer formation about two days ago, that has held on pretty well. Volumes have been supportive for a rebound. So, it will rebound towards Rs 930-940. You can buy it here. With a stop loss below Rs 800 look for rebound," he said.