The Union Budget has truly managed to strike a fine balance between fiscal consolidation and public spending to spruce growth, against the backdrop of challenging global and domestic environment.
IT stocks continue to remains under pressure on back of talks of re-introduction of immigration bill which proposes to increase wages from USD 65,000 to USD 100,000.
Rajat Bose of rajatkbose.com is of the view that one can short Yes Bank, Axis Bank and ICICI Bank at the current level.
The RBI had met up with bank bosses recently to take stock of the bad loan problem and outline steps that would help banks clean up their balance sheets by March 2017. Parveen Kumar Gupta, Managing Director, SBI, says the RBI so far has not given any specific directives on additional provisions
Vineet Bhatnagar of PhillipCapital says investors should use the current market weakness to buy stocks.