Aditya Agarwal, Sr Derivative Analyst, Way2Wealth is of the view that State Bank of India (SBI) can test Rs 2250-2300.
Agarwal told CNBC-TV18, "in SBI Rs 2100 was a very strong resistance. Today stock has broken this range and we have also seen some 5% fresh additions in open interest. On options also we are continuously seeing some long built up in SBI; Rs 2100-2150 call option. So we are expecting that SBI can test Rs 2250 to Rs 2300 in next few trading sessions."
He further added, "Bank Nifty has given a very good breakout above 10000 and for last 2 trading sessions it is sustaining above that. So on Bank Nifty our first target will be 10700, above that Rs 10900. So banking sector as such is looking from these levels. SBI, ICICI both these in largecap stocks but in some of the midcap counters like Allahabad Bank is one stock which is looking good, South Indian Bank is another counter. So these are couple of the midcap counters which are looking good in banking sector."
