Energy, auto may outperform: Bhavin Desai

Bhavin Desai of Motilal Oswal Securities told CNBC-TV18, "Keeping my fingers crossed for the banks because that is the only sector where things have not materialised. The underperformance of the banking stocks has widely disappointed. We are more positive – our sector models are pointing at an outperformance on the energy side, on the auto, these are couple of sectors that we are overweight on in terms of our trading books are concerned.""However, as far as the push is concerned, a lot of shorts, lot of pessimism on the banking side and similar action that we saw on Nifty, we saw on Bank Nifty as well, so, chances are that if we do hold 14,700 or thereabouts, we are likely to see 15,500-15,600 thereabouts. Generally when the fall is such fierce, the pullbacks as we speak are also fierce. So, chances are that we might see banking performing and if that alongside energy, the heavyweight Reliance Industries and some of the auto names, if they do participate, then this may materialise into a big move," he added.Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com."Even in the banking, you see Axis Bank, which we are very happy with whatever prices action that it has gone through in last few days. So, that along with the fact that ICICI Bank is also properly placed, about Rs 220 should be a level, beyond which we are not looking at ICICI Bank in the near-term, so, these are some of the things which might push the Nifty forward," he said.