Sanjay Sinha positive on banks, advises to accumulate

Sanjay Sinha, founder of Citrus Advisors told CNBC-TV18, "My call on the markets direction is more macro economic lead and therefore I expect the economic situation to give a fillip to the market. If that is going to happen then the primary beneficiaries are going to be those which are in the financial sector and banks particularly. If that is to happen, these mis-givings that we have on both private banks now as well as the public sector banks for the last few months, are primarily linked to the proportion of non-performing assets that they are going to be accumulating in their books."

"The outlook on that going forward might be little more positive than it has been. Therefore the view has to be positive on the banking sector and this weakness is an opportunity to accumulate. I will not say that you should go biting into banks as a pack but you should surely nibble and accumulate in this weakness which in my opinion could be lasting for three to four months," he said.

"It would depend as how strong hearted are you. If you want to take an extreme contrarian call I would pickup the public sector banks because the delta there will be higher. If you want to play relatively safe then the private sector banks are where you should be picking your stocks from," he added.