Look at banks: Dilip Bhat

Dilip Bhat of Prabhudas Lilladher told CNBC-TV18, "If you were to classify between private and PSU, private sector banks really have performed so well without any doubt. So, they giving up games probably would be understandable because there would be a lot of profit booking in them but as far as the PSU banks are concerned, it looks like a bottomless pit at the moment and the pessimism is absolutely acute in case of the PSU banks and also generally in the financial sector. So, my own take is maybe I don’t know what will happen in the next one and a half to two months. Will it come down slightly lower, maybe another 5-7 percent? Very much possible but beyond that if one is ready to take a slightly longer-term bet, one can certainly look at the select names from this particular sector."

"I still maintain that markets may not go anywhere, it can still come down but overall the interest rate scenario, of that coming down maybe not sooner but later also, maybe over next one year would probably give a good support to the market at the bottom levels and maybe couple of hundred points from this level also will be good enough. So, I would look for selective buying maybe not in the next one month, one and a half month, maybe after that but I will certainly look to add into the portfolio," he said.