Banks and financials corrected sharply from higher levels on Tuesday pulling down market gains. Global sentiments are still negative as FIIs continued to be net sellers. On Tuesday night, the US markets lost momentum after the vaccine rally faltered.

· Look to buy SBI at Rs.153 for 2-3 months time frame as SBI is emerging as a good sum of total parts (SOTP) story. Look for targets of Rs.185 to Rs.190 on the stock.

· Axis Bank still looks weak and wobbly on every bounce. Sell Axis Bank around Rs.357 for targets of Rs.310. It is steeply priced at around 65 P/E.

· To play the stimulus bounce in the next few months, buy L&T around Rs.800 for targets of Rs.880. Defence could be an added story for the stock.

The pharma sector could come under pressure due to limited success on Moderna vaccine. But pressure would actually come from banks and autos for the Nifty.