TS Harihar negative on PSU banks, positive on private banks

TS Harihar of HRBV Client Solutions told CNBC-TV18, "For the very short-term, that is for the next one and a half hours, if you are going to talk about the current expiry, the one thing you could probably look out for is some short-covering in public sector (PSU) banks. Most of the PSU banks like Punjab National Bank (PNB), Bank of Baroda, Union Bank, SBI, all of them have corrected very sharply in the last one month and this is despite the fact that the markets are up substantially from their lower levels. So, a little bit of short covering on PSU Banks is something that a very short-term trader would count on."

"Extending the horizon slightly to the next expiry, I would continue to be negative on the PSU banks and positive on the private banks. But, instead of the three large private banks, the real action could actually come in the next expiry. In the second line of banks like Kotak Mahindra Bank, IndusInd Bank, YES Bank we are probably keeping off because of the management tussle going on that could be an overhang on the price. But IndusInd Bank and Kotak Bank are to be watched out for, for a long trade in the next series," he said.