Sudarshan Sukhani, s2analytics.com advises traders to buy SBI on dips.
Sukhani told CNBC-TV18, “I would be upbeat on State Bank of India (SBI). The problem here is the context. The context in which SBI is giving results and the questions we are discussing is a downtrend in the broad market. So SBI is not going to go against that downtrend, but the key here is I would be very uncomfortable selling short SBI. SBI is a buy on dips stock. We just wait for dip to come and get over.”
On Feb 13, State Bank of India (SBI) closed at Rs 2,255.05, down Rs 42.10, or 1.83%. It has touched an intraday high of Rs 2,322.55 and an intraday low of Rs 2,241.