Should one completely avoid the big banking names? Sandip Sabharwal answers

economictimes.indiatimes.com:

Sandip Sabharwal, asksandipsabharwal.com, says “from the Kotak standpoint, there is no significant negative. HDFC faces a lot of headwinds related to its integration and impact on margins as liquidity becomes more and more tight. We have to give it time. So, at a price, it will be a buy. I do not think they are buys right now. Let them correct. These are good, well-managed banks and we will buy them at our prices.”
Overnight, Morgan Stanley put out a note in the US saying that the rising yields and dollar rally would be very disadvantageous for emerging market stocks. We have seen all of this play out and the kind of relationship global macro cues have with Indian stocks for a very long time because of flows. How vulnerable are we now or do you think drawing previous historic example may not apply anymore and we are much more robust?
Specifically for India, we are much, much more robust. If you look at our forex reserves, if you look at our overall trade, our current account deficit vis-à-vis what forex reserves we hold, our entire inflation dynamics vis-à-vis what used to be there earlier, things are totally different.

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Secondly, these brokerage houses come out with reports at a peak of cycle. The dollar has been rallying for so many months. The bond yields have been going up for so many months. Now, when we might potentially be at a threshold where there could be a potential reversal from, let us say, the US 10-year bond yields from around 4.75%, they could actually be