Look at Kotak Mahindra Bank: CK Narayan

CK Narayan of Growth Avenues told CNBC-TV18, "I think Kotak Mahindra Bank has been one of those stocks which have been fairly resistant to declines. Though it has peeled off from the highs, I don’t think there is too much of trader patronage to take the stock down with vastly leveraged set of positions. There is always this big amount of positive which acts as a cushion that somewhere down the line there will be more sell-off from the promoter, etc. So, every time you see the banking sector come back into play, Kotak is one of the stocks to play."

"I would always look at, at least over the near term at Kotak with a bullish eye and would be looking to buy it every time it reaches down into support. It is now trading down into support, got bashed down a bit along with the rest of the market. So, whether I want to buy it tomorrow, that is a different question because it is not one of those with the highest amount of beta or the greatest amount of momentum," he said.

"So, if I want to play a market which is a little hesitant or which is a bit down on its sentiment, Kotak may not be the stock that I would want to rush into; there maybe other higher beta stocks within the bank space. I would probably single out something like Axis Bank or IndusInd Bank from the private sector space. However, since your question was specific to Kotak I do think of it in a very bullish manner but I would use lower levels to buy into."