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Banking stocks declined for another consecutive session on Wednesday after the RBI decided to raise short-term borrowing rates to cap currency volatility. Market analysts said that an interest-rate cut in the RBI policy review later this month looks unlikely for now.
So should you BUY any of these counters at current valuations?
Check out the trading strategies with Mudit Goyal, technical analyst, SMC Global for banks and other frontline stocks.
Smartinvestor : Do you have any picks in the oil & gas or telecom space that may benefit from recent FDI measures?
Mudit Goyal : Long: Reliance for the upside target of 970-1000 in near term. It is going to complete the W” pattern on weekly chart which suggest the upside rally for near term. Bharti Airtel for the upside target 360-380 in near term.
Smartinvestor : Banking stocks have been beaten down in last two sessions. Would you recommend BUY on counters such as Axis Bank, HDFC at current valuations?
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