CK Narayan, Growth Avenues told CNBC-TV18, “I think private sector banks are poised decently and we had some good news flow at least by way of announcements for public sector banks. So I would definitely look at HDFC Bank which I fancy on the charts and it has shown fairly decently breakout to the upside. If this were to sustain then I would rank HDFC as one of the stocks to buy into with a week or two as your perspective and a fair amount of gains in the region of about 10-15 percent to accrue from the current levels."
"Similar situation exists for Bharat Heavy Electricals (BHEL) where it has been very resilient to all declines and it is almost among the earlier stocks to bounce back from dips. During the last couple of sessions we have seen it move fairly decisively, passed the recent swing highs and supply points near Rs 254-255 and closed around 57-57.50 on the Futures and slightly higher on cash. So BHEL is another stock that I would look for to give us some gains about Rs 280-285 across this month, so it's a decent trade for July expiry," he added.
Narayan further added, "However, from public sector undertaking (PSU) banks I would be inclined to pick something like Union Bank of India (UBI) which has the best strength among the PSU banking stocks. So that's another one which has moved up well towards close of about Rs 161 where we have finished, stop loss on this is well defined and nearby around Rs 155. So I would venture a buy on that stock expecting a rise of about 10 percent across week."
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