The Nifty Private Bank index climbed 2.09 percent in the past week. However, on a year-to-date (YTD) basis, the index is down 5.07 percent. Some signs of short covering were seen on the day before the presentation of the budget.
Brokerage house B&K Securities sees an around 10 percent upside potential in benchmark Nifty in the next 12 months but flows could take the Nifty much higher