Buy YES Bank, IndusInd Bank on dips: Nitin Jain

Nitin Jain of Edelweiss Securities told CNBC-TV18, "Banking has gone through quite a amazing trough and has bounced surprisingly very strongly over the last one month. If one sees IndusInd Bank and YES Bank, who suffered the most after the RBI restriction or RBI raising rates on the marginal standing facility (MSF). What has happened is the new governor has reversed the earlier stance which means a lot of positive for these two particular banks- IndusInd Bank and YES Bank."

"The large part of the rally on the bounce is probably over. I suspect that going forward, one may not see the kind of momentum that one has seen in the stock but I still believe these are great stocks and any dip of 10-15 percent in these two stocks should be used as a buying opportunity," he said.