Revision of Growth rate triggers profit booking in Banks.
Rate cut was already priced in.
Financials had cracked today. With PSU banks down over 4% and BankNifty down over 2%.
We like only few hand picked growth oriented banks like
- Hdfc bank
- Indusind bank
- Kotak bank
- RBL bank
- Bandhan bank
- AU Small Finance bank
We are not recommending a buy in these stocks now for short term or medium term.
Long term investors can invest in these stocks in SIP mode.
Avoid PSU banks. We like SBI, Indian bank, etc. Still I feel the above listed private banks to outperform these 2 stocks.
In recent past, we have avoided financials due to volatility issues. We will continue to avoid them for a while.
I am Admin, Gale.in. I am into investing and trading for last 7 years. I love sharing my knowledge and to educate people. I write articles regarding stock market to enlighten people about stock market and also share stock ideas at Gale.in to ensure retail investors of decent profits. You can contact me at email@example.com for stock queries. Have a wonderful time at Gale.in.