Sell State Bank of India, buy Container Corporation of India: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "The first recommendation would be sell on State Bank of India (SBI). We have seen consistent short positions getting built once it broke Rs 282-283 levels and the immediate supports were seen at Rs 278-280. Even that is breached and it is trading below these levels. The immediate supports are now seen somewhere near Rs 260-262. So, with conservative target of Rs 265 one can sell SBI with a stop loss of Rs 278."

"Second would be buy on Container Corporation of India (Concor) future. We have seen good amount of long positions getting built. It saw an up move till Rs 1,280 levels. Yesterday many of the public sector enterprises saw a good amount of profit booking on account of long unwinding. It went towards Rs 1,220 levels, taken support from the breakout levels which are held near Rs 1,215-1,220 zones. Some fresh buying is emerging. One can have a stop loss of Rs 1,220 and play for target of Rs 1,280," he said.