Buy bank stocks at lower levels & hold for 6-9 months: Jyotivardhan Jaipuria, BofA-ML

In an chat with ET Now, Jyotivardhan Jaipuria, HoR, BofA-ML, shares his views on the banking space. Excerpts:

ET Now: Do you think the banking space is going to continue to be under pressure for some more quarters to come?

Jyotivardhan Jaipuria: It is not a sector which we think should be bought when things correct. Therefore, if we see the banking space from its lows, most of the stocks gave a bounce of around 25%. We will see a lot of that bounce retrace back because the RBI is not really going to cut rates in a hurry. There was a lot of hope in the run up to the RBI policy, because the rupee had started to stabilise. We will see these stocks being very volatile, but you have to buy these stocks at lower levels and then hold them for the next six-nine months. They should probably give you good returns.