Wednesday 8 October 2008

Prefer PSU banks says Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that one should prefer PSU banks in general. HDFC is a better opportunity than ICICI Bank in non-PSU banks, he added.

Sukhani told CNBC-TV18, "Reliance and Nifty are more or less doing the same thing Reliance is breaking down, Nifty is breaking down. Reliance has broken down some support level and Nifty has done that and like the Nifty; Reliance will stop wherever it wants or wherever it stops. Earlier also I have said Reliance is not a stock that you go short on and now if the Nifty stabilizes then Reliance is a stock at Rs 1,600 or so that you actually want to go and buy even for a short-term trade that would be my view on Reliance."

He further added, "I am upbeat on banks. HDFC is one of the better outperformers in some ways, so if at all you want to buy a non-PSU bank then HDFC is a better opportunity than ICICI Bank. But I would prefer to go for PSU banks in general."

Disclosure: It is safe to assume that analyst & his clients may have an investment interest in the stocks/sectors discussed.

Source: Moneycontrol

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