Prefer HDFC Bank, Axis Bank: Mohoni

Technical Analyst, Deepak Mohoni is of the view that one can switch to HDFC Bank, Axis Bank or even HDFC or some stocks which are individually doing well like Titan Industries, Divis Lab.

Mohoni told CNBC-TV18, "Lot of these stocks, which got battered down in the bear market; stocks which have lost 60-90% have had a good bounce in the last few days, Tata Motors is one of them. Now unless the whole market bottoms out and starts a bull market stocks like Tata Motors will probably continue to make new lows. So you should take advantage of the fact that the stock has risen in the last three-four days and switch immediately to stock that doesn’t have so much downside risk and which would go up anyway if the market goes up. So switch to some of the banks like HDFC Bank, Axis Bank or even HDFC or some stocks which are individually doing well like Titan Industries, Divis Lab that maybe a good strategy."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol