Sudarshan Sukhani, s2analytics.com feels that one can go long on State Bank of India (SBI).
Sukhani told CNBC-TV18, "State Bank of India (SBI) should pullback significantly from - it closed at the lows yesterday so a decent pullback from that level is expected maybe Rs 1650 maybe Rs 1700. I think the chances are it could perform well on the upside as well as it has done on the downside. It would be a preference to go long in."
He further added, " HDFC 's decline was surprising; I think the rally will be equally surprising. We want to focus only on blue chips or rather the bluest of blue chips, that's a mistake that retail investors often do when a rally of this kind starts they go to the Lanco s and the Suzlon s that's not a good idea. HDFC should participate in any kind of rally, the charts are far better than for other financials."
