Banking stocks to lead the rally: Devang Visaria

Devang Visaria, Chief Strategist, Devangvisaria.com talks to ET NOW about Reliance stock and markets trend.

In the near term, do you see any trend (in RIL stock)? Do you think the stock can need to see a breakout may be a decisive one above 1100?

It's just consolidating. I don’t think there is too much of momentum in the stock. Momentum in fact is there in the banking pack, you could have momentum in the State Bank and ICICI Bank and all the other small banks UCO Bank, Bank of Baroda etc. But momentum is clearly lacking in all the other sectors. So I think this rally - what we are expecting or what we are likely to see - is more likely to be led by the banks rather than by the other stocks.