Bullish on midcap banking for short-term: Ambareesh Baliga
From a short term angle, there is momentum in midcap banking and I would surely look at stocks like Andhra Bank or a Dena Bank from a short term angle.
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| Ambareesh Baliga, VP Karvy Stock Broking Ltd
Would you play the midcap banking space? SBI and Indian Bank showed some bit of spunk in yesterday's trade but would you look at midcap banking?
From a short term angle, there is momentum in midcap banking and I would surely look at stocks like Andhra Bank or a Dena Bank from a short term angle. If you are talking of medium term, that is, next 4 to 6 months, we are not so bullish on the banking space. We feel that most of these stocks will get at lower levels once people realise that there is a pressure on the net interest margins, treasury income going down over the next two quarters.
Would you play the midcap banking space? SBI and Indian Bank showed some bit of spunk in yesterday's trade but would you look at midcap banking?
From a short term angle, there is momentum in midcap banking and I would surely look at stocks like Andhra Bank or a Dena Bank from a short term angle. If you are talking of medium term, that is, next 4 to 6 months, we are not so bullish on the banking space. We feel that most of these stocks will get at lower levels once people realise that there is a pressure on the net interest margins, treasury income going down over the next two quarters.
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