Expect SBI to hit Rs 2200: Murlidharan

Manoj Murlidharan Vayalar of IIFL told CNBC-TV18, "We are upbeat on State Bank of India (SBI). The reason is we purely follow statistic as to what the money is coming and the weightage it has in the Bank Nifty. Needless to say we all know that there are four major scrips in Bank Nifty which has a combined weightage of almost 75-80 percent, SBI is one of that."

He further added, "SBI is one scrip, where the distribution has not really gone below the weighted average price of Rs 2,064 which we feel is a very good support. So we feel SBI becomes a buy. Its future is at Rs 2,100-2,110 as of now. We should go long on that. The stop loss should be at Rs 2,040 and we should expect at least Rs 2,200-2,220 on that.”