Go long in Axis Bank future, short ICICI future: TS Harihar

TS Harihar of HRBV Client Solutions told CNBC-TV18, "What we believe is that we could have probably a marginal rate cut when the RBI meets for its policy on 29 September and one of the few beneficiaries in the banking space actually could be Axis Bank. So, we have a long-short strategy, where we are going long on Axis Bank futures at a price of about Rs 502 and going short on ICICI Bank futures at a price of Rs 267, these are of course October futures. Now, the idea is that we expect Axis Bank over the next one quarter to outperform ICICI Bank and that outperformance is going to be captured by this long-short patch strategy."At 12:08 hrs ICICI Bank was quoting at Rs 271, up Rs 0.35, or 0.13 percent.Disclosure: Analyst does not have any positions, nor have recommended it to anyone else.