Prefer private sector banks: Gaurang Shah

Gaurang Shah of Geojit BNP Paribas Financial Services told CNBC-TV18, "It is better to buy private sector banks and we have seen private sector banks perform much better hands down beating the public sector banks. So, my advice is that would be to look at private sector banks, Axis Bank, ICICI Bank, HDFC Bank, IndusInd Bank and Kotak Mahindra Bank are some of the stock ideas."

"As a disclosure, we do have positive coverage on all of them. And on a conservative side, one can look at targets about 15-20 percent upside from current market price," he added.