Pair trade: Short ICICI Bank, long SBI: Rishi Kohli

Rishi Kohli of Pro-Alpha Systematic Capital told CNBC-TV18, "Overall Bank Nifty has been giving much larger momentum than the Nifty. There is some sort of divergence between some of the public sector undertaking (PSU) stocks and some of the private banking stocks. So what we are seeing is that State Bank of India (SBI) has already broken much more than ICICI Bank and is at a position where there could be some short-term mean revision happening."

'It would very difficult to go aggressively short on SBI whereas ICICI Bank still has room to go down. So I would go with a trading bet on the short side on ICICI Bank and long in SBI and it could be a very interesting pair trade," he said.

Disclosure: He does not hold any position in the above stocks.