Buy SBI around Rs 2060, says Baliga

Ambareesh Baliga, Market Expert advice traders to buy SBI around Rs 2060.

Baliga told CNBC-TV18, “SBI, I have been saying the NPA issue is going to bother them and the other PSU sector banks at least for the next one or two quarters. So the way I see it is SBI could come down to levels of closer to about Rs 2060. I think at those levels one could look at buying.”
He further added, “Among the top stocks like I said Dr Reddys is one of my picks now, especially after the results and among the smaller ones which I have been recommending for the last close to 4-6 months Dishman and Shasun. Dishman has again started moving. It has crossed that Rs 110-112 levels and I would reiterate my target of about Rs 140-145. Shasun has been quiet, but I think it is still time to pick it up at these levels closer to Rs 143-144.”
“MCX India will not be as smooth sailing as when it was for their commodities market segment because here I think the expenditure would be quite high for market making. So, I am a bit bothered about that as far as the price is concerned. So, at these levels I will not be a buyer, I would possibly look at booking out at closer to Rs 1600-1625.”