Stay invested in SBI , says VK Sharma, HDFC Securities.
Sharma told CNBC-TV18, "In SBI Rs 2100 can be a stoploss in the cash market. However, fundamentally this is a stock that we are recommending investors to buy. We have seen 2 quarters, these slippages have been there and the slippages could continue in this quarter as well. So while we could find slippages on a year on year basis we could find some retrieve on a sequential basis. So if that comes about and the market bounces back I think SBI could lead the rally as well. So from a fundamental perspective I am willing to put a hold on this but technically if you are a trader then you will have to put a stop loss in place which is Rs 2100."
The company touched its 52-week high Rs 2,959.90 and 52-week low Rs 1,576.00 on 25 Apr, 2011 and 20 Dec, 2011, respectively. Currently, it is trading -28.15% below its 52-week high and 34.95% above its 52-week low. Market capitalisation stands at Rs 135,051.71 crore.
