Buy State Bank of India Feb 2000 Call, says Sudarshan Sukhani, s2analytics.com.
Sukhani told CNBC-TV18, "One can buy State Bank of India (SBI) Feb 2000 call or SBI futures. If you are risk-averse investors, then buy SBI in equity market. ICICI Bank , IDFC both did a v-shaped rally. When stocks rally v-shape they are falling and one day they suddenly start going up and then keep on going up, there is no support underneath, so with ICICI Bank and IDFC and maybe even Axis Bank long positions should be taken but extremely tight stops should be used."
He further added, "Crompton Greaves is giving an impression of an imminent significant upmove but it does appear that we can see a correction, a consolidation before the upmove if it comes about then that will be the time to buy. At this point it's overbought purely based on charts, overbought conditions can sometimes lead to consolidations. So this is not a good time to enter but the charts are suggesting a major upmove is in the offing."
