Upside in financial stocks for intraday trade: Rajat Bose, rajatkbose.com

In a chat with ET Now, Rajat Bose, rajatkbose.com, shares his views on financials.

ET Now: Is there an opportunity to go long on financials?

Rajat Bose: If you are interested in scalping or taking intraday trades, then today you can expect some kind of an upside in these stocks. IDFC is already up by 4.86% and if it were to trade above 121, then you can expect 123 and thereafter 127, but this is only very short term pullback. I do not set much store in this rally. Till the Nifty does not cross 5120 in a decisive manner, these rallies are unlikely to sustain. There has been huge selling, this is actually a pullback that is going on. This is not a major buying opportunity. Definitely, you can scalp or take an intraday trade.