Buy J&K Bank on decline: Rajat Bose

Rajat Bose, rajatkbose.com, in a chat with ET Now, gives his stock call


What is the call on J&K Bank?

Banking pack overall is still under pressure but then J&K Bank is one stock that has still some strength and in fact if it were to maintain above say Rs 879 kind of levels, that would be a supply zone. Even yesterday it tried and it touched a high of Rs 897.85 and then came down. So that Rs 870 to Rs 900 if crossed and sustained then the next target would be something like Rs 940 to about Rs 970 and if Rs 940 to Rs 970 is crossed, then Rs 1000 is possible. But, I would say that I still believe that the market has not yet bottomed and my expectation is that the bottom would actually happen anytime after May 20. Maybe in the last 10 days of May we would see a bottom and after that banking stocks would give you a very good opportunity and that would be the time when you buy banking stocks at lower prices. Some of the banking stocks are throwing buying opportunities, maybe not immediately but buy bank stocks and sell and book FMCGs. FMCGs are actually posting tops, in fact they are pretty expensive now. So you can do pair trades going forward in them.