Book profits in banking stocks: Amit Goel

Amit Goel, Director, PACE Stock Broking Services in an interview with ET Now talks about banking stocks.

A word from you at current levels if one is looking to rejig their portfolio which sector should one start looking at in terms of increasing their weightage towards and probably start cutting positions in some other few sectors?

I think banking is probably a good candidate for profit booking. Banking has been a outperformer in this rally of last 5 to 6 months and bank nifty has shown an increase of almost 50% in this rally so I think banking sector one should probably exit and book some profits.

On the other hand I think sugar stocks are still looking good and if one takes a medium term horizon one can still make money. Power Grid is looking good and I think in the oil and gas sector, oil marketing companies are looking good. So it is kind of more of an agro play and a defensive play for the markets if one really has to buy and as far as the high beta sectors are concerned and particularly banking is concerned I think its time to exit.