Buy SBI, Union Bk, positive on ICICI Bank, HDFC Bank: Mehta

Yogesh Mehta of Motilal Oswal Securities told CNBC-TV18, "In the Bank Nifty, the private sector banks have majorly contributed and HDFC Bank looks very positive. Axis Bank and ICICI Bank still looks very positive from here on if it is a trading bet and Bank Nifty seems very promising. We are betting on PSU banks and the banking sector as well. So this is what the theme that we are driving for and Bank Nifty of course looks very attractive on dips, if any dip is there, one can buy on Bank Nifty and target would be somewhere around 6-8 percent higher from these levels but it will take some time, it is not an overnight target."

"On the PSU banks, State Bank of India (SBI) seems to be very strong. Union Bank of India has come out with results, which was a little disappointing but then also it is not very disappointing and one can still look at Union Bank on the investment side. SBI remains the top pick in the largecap PSU banks," he said.