Markets recovered in afternoon trades with BSE-bankex notching up gains amid optimism of a rate-cut by the Reserve Bank of India after wholesale price inflation eased more than expected for the month of March.
Check out the trading strategies for banking space and other frontline stocks with Siddharth Bhamre, head of derivatives at Angel Broking.
Smartinvestor : Do you have any sector-specific strategy at this juncture?
Siddharth Bhamre : We are negative on banking sector, with a sell on Bank Nifty, SBI and some private sector banks.
Siddharth Bhamre : IT sector looks depressed too so its ideal to go short on IT space.
Overall, we do not expect any significant upside in any of the sectors.
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