May 18, 2012 08:01 PM IST | Source: CNBC-TV18

Exit SBI around Rs 1940- 1960, says Chaturmohta

Ashish Chaturmohta, VP- Derivatives and Technical Analyst, IIFL Private Wealth Management advice traders to exit from SBI around Rs 1940- 1960 levels.

Ashish Chaturmohta, VP- Derivatives and Technical Analyst, IIFL Private Wealth Management advice traders to exit from SBI around Rs 1940- 1960 levels.

Chaturmohta told CNBC-TV18, "SBI, in the last three-four trading sessions when markets were correcting the stock was not reacting to it and we have seen a good base between Rs 1,800 to Rs 1,850 odd levels. So I think there can be a short covering. I believe in future SBI can test Rs 1,950-1,970 levels but around those levels this stock may face lot of selling pressure so ideally Rs 1,940 to Rs 1,960 would be a good level to exit in long positions."

The company's trailing 12-month (TTM) EPS was at Rs 130.15 per share. (Dec, 2011). The stock's price-to-earnings (P/E) ratio was 14.92. The latest book value of the company is Rs 968.97 per share. At current value, the price-to-book value of the company was 2. The dividend yield of the company was 1.54%.

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