SBI can touch Rs 3000-3100: Manghnani

Manghnani told CNBC-TV18, "I think there was so much a concern about TCS , given what happen to Infosys , now that is out as a way and no surprise is out there, even Reliance , although the results have not been good, it hasn’t been a stock that really has done anything for market over the last two years, I don’t think that too many positions are out there to be worried about."

He further added, "I think SBI, the reason being it hasn’t done anything over the last two months or so, where some other banks have really rallied. It is right at its crucial level, I think Rs 2870 is the level. If it takes that out, it has got potential to go to Rs 3000 and Rs 3100. Even ICICI Bank , although has rallied till Rs 930 levels, over the last couple of weeks it is hanging around that Rs 1100 mark. Rs 1150-1160 is the key resistance, I think that is another big one. Those two should be the next two that the market would be looking forward for."