Hold Axis Bank; target Rs 420: Bhavin Desai

Bhavin Desai of Motilal Oswal Securities told CNBC-TV18, "On a smaller scale let us just say if Axis Bank does manage to cross or rather hit our expected target of about Rs 420, we are heading higher. We are heading higher at least to about Rs 500 thereabouts in next few months. The kind of momentum that Axis Bank has had, historically also, whenever it falls, it falls faster and more than the underlying indexes, some of the larger stocks, some of its peers. When it goes up, it goes up wildly.""If one stock you would like to play on the bottom fishing side, once again Rs 375 thereabouts is a stoploss and Rs 420 is just an initial target. Keep holding on to the stock, keep trailing your stoploss, the stock can surprise you on the upside," he said.