Private sector banks look quite attractive and HDFC Bank and ICICI Bank have contributed around 30 points each to the Bank Nifty, says stock market expert SP Tulsian.

"You are going to see revival or recovery in HDFC also which will make the Nifty to move up,” he observed.

Tulsian remains upbeat about the automobile sector. “If you see the valuation call, I think all automobile stocks are now ruling virtually in the P/E multiple of 10-12 which are looking quite good. You are near the end of the downward cycle whether it is passenger vehicles or commercial vehicles because we have already seen a revival in the two-wheeler space on a month-on-month basis. In fact this is the time if you have patience of may be a couple of months more to play on auto and auto ancillary; start buying them and maybe with a longer horizon of about 4-6 months to reap rich rewards,” he added.

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First Published:Oct 9, 2019 5:30 PM IST