Buy SBI at Rs 2150-2200: Gujral
Published on Friday, November 13th, 2009 at 10:45 PMAuthor: stockalert (2026 Articles)
Buy State Bank of India (SBI) at Rs 2150-2200, says Technical Analyst, Ashwani Gujral.
“There are some stocks, which are making fresh highs in banks, something like a Punjab National Bank (PNB). So probably they are unlikely to make fresh intermediate highs till the market breaks out to 5,200 but they are certainly not weak on all declines, you need to be buying stocks like SBI if it comes down to about Rs 2,150-2,200. Again for PNB, Rs 880 is a good place to buy, Yes Bank has made intermediate highs in the midcap side that you can buy around Rs 235-240. So banks are not showing weakness, real estate is. So within the interest rate sensitive, I think banks are something you can still go with but stay away from real estate. That maybe due to because lots of real estate paper is coming on the market but that is a weak pocket not banks.”
Source : MoneyControl
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