SENSEX NIFTY
Apr 18, 2013, 11.58 AM IST | Source: CNBC-TV18

SBI likely to slip: Amit Trivedi

Amit Trivedi, Co-Founder of Investworks.in is of the view that State Bank of India (SBI) one can sell 2,250 straddle at around Rs 80. This price will go down to around Rs 55 in the next two-three days by Monday or Tuesday. You can place a stop loss if it goes to around Rs 90.

Amit Trivedi, Co-Founder of Investworks.in is of the view that State Bank of India (SBI) one can sell 2,250 straddle at around Rs 80. This price will go down to around Rs 55 in the next two-three days by Monday or Tuesday. You can place a stop loss if it goes to around Rs 90.

Trivedi told CNBC-TV18, “Because of the soft data in terms of inflation, SBI has moved up. We do not know if there will be a rate cut on May 3 or no given that for example, if you look at Brazil which raised trades yesterday, but expectation of rate cut may lead the stock to remain at the current levels of around Rs 2,250 levels. So, we think since you have expiry next Thursday but only four working days, one can sell 2,250 straddle at around Rs 80. This price will go down to around Rs 55 in the next two-three days by Monday or Tuesday. You can place a stop loss if it goes to around Rs 90.”

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