Buy SBI, target of Rs 2300: Shardul Kulkarni

Kulkarni told CNBC-TV18, “The largecap stock like State Bank of India (SBI) should outperform the market. As we speak the stock is already at days high and we feel that the stock is expected to move to around Rs 2,300 levels.”

He further added, “It has actually underperformed the market in the last 10-15 trading sessions but we feel that the triangular breakout which has taken place on the daily chart should actually lead the stock towards Rs 2,300 levels. So, Yes, SBI would be a buy. Traders who are trading in the future segment should use Rs 2,140 as a stop loss- buy on declines but we feel that probably declines may not come; you may see the stock directly moving to Rs 2,300.”

Disclosures: We have suggested these trades to a couple of clients and we may have positions in the stocks discussed.