SBI can test Rs 1600-1650: Baliga

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SBI can test Rs 1600-1650: Baliga

Ambareesh Baliga of Karvy Stock Broking is of the view that SBI can test Rs1600-1650. If one sees level closer to around Rs 1,250-1,275, should be utilize to average out and possibly over the next six-seven months one should be able to get out of this stock at Rs 1,600-1,650.

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Excerpts from Your Stocks on CNBC-TV18 Watch the full show » RELATED NEWS SBI has resistance at Rs 1480: S Agarwal SBI among major gainers ALSO READ See previous views by Ambareesh Baliga See what other Experts & Brokerages are saying about SBI See messages about SBI SBI BSE | NSE 28/05/12 Are Mutual Funds betting on SBI?

Ambareesh Baliga of Karvy Stock Broking is of the view that SBI can test Rs1600-1650.

Baliga told CNBC-TV18, "At the current levels, we are finding State Bank of India quite interesting especially looking at the performance and expected performance over the next two-three years where we expect this to grow at anywhere between 15% and 17%. So we feel that it could go back to Rs 1,600-1,650. My suggestion is that if one sees level closer to around Rs 1,250-1,275, should be utilize to average out and possibly over the next six-seven months one should be able to get out of this stock at Rs 1,600-1,650."

Disclosure: Analyst has personal holdings in Punj Lloyd and Firstsource.