Sukhani told CNBC-TV18, "The Nifty is roaring up and the Bank Nifty is flat, it is hardly moving and PSU banks are in deep trouble in terms of stock price charts. There is more downside here in Allahabad Bank. At the most see what is protecting us that if the market really goes up again it will be smaller momentum now. Then PSU banks won't move, so that is a lot of protection on the upside."
He further added, "The upside is limited while once there is a choppy market, the downside could increase again. So Allahabad Bank is a selling opportunity. Some of the PSU bank sells we have given over the last few days have worked."
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