Focus on frontline stocks, says Dilip Bhat

Dilip Bhat of Prabhudas Lilladher told CNBC-TV18, "The way the recovery has been tentative and not very decisive the fall back will still be on some of the frontline stocks. There is a lot of comfort and resilience. So obviously Larsen & Toubro will be on the radar. In the private sector bank something like Axis Bank or HDFC Bank will all be on the radar, Federal Bank will also be there and I will also look at some of the auto names certainly something like may be Bajaj Auto or Maruti Suzuki India from these levels. So, it will still be a case for something like the frontline stocks where you should focus on."

At 13:58 hrs HDFC Bank was quoting at Rs 976.85, down Rs 10.55, or 1.07 percent. It has touched an intraday high of Rs 988 and an intraday low of Rs 968.30.