SBI can touch Rs 2280: Vayalar

Vayalar told CNBC-TV18, “For State Bank of India (SBI), after the recent correction of almost 4.5 percent, if one sees this average pricing of Rs 2880 to 2215 we are seeing good cash based buying happening and the net amount of shorting which has happened in the stock futures, we feel that is being reversed because that is giving a positive alpha on the stock. We feel 2280 is very much possible. Keep a stop loss somewhere close to 2190 on that and the stock is somewhere close to 2220 on the futures so I am long on that as well.”