Buy Yes Bank, Axis; Avoid SBI, ICICI, Says Sanjeev Bhasin

Sanjiv Bhasin, executive vice president, markets & corporate affairs at IIFL expects 7,600-7,700 to act as a support for the Nifty in the near term. At these levels, it's an opportune time to start collecting stocks, and in in the latter half of September they could yield much better returns, he added. The high volatility in stock markets is very healthy because it has shaken out a lot of frothy money, Mr Bhasin said.

Stock Talk

Buy Yes Bank, Axis Bank: They are among IIFL's banking favourites. The risk reward on going long is favourable in these stocks. The two stocks have become very attractively priced after the recent correction.

Avoid SBI, ICICI Bank: They will now have to adhere to more stringent capital norms after being saddled with "too big to fail" label. Technically, ICICI Bank looks weak on the charts.