SBI can move to Rs 2085, says Anu Jain

SBI can move to Rs 2085, says Anu Jain, IIFL Private Wealth Management.

Jain told CNBC-TV18, “SBI can definitely at the current level where it’s closed about Rs 2009. It can move up to about Rs 2085, there is resistance at those level, so closer to Rs 2100. I would keep my stop loss if I am holding it about Rs 1960, so if it holds onto Rs 1960 and the markets stays stable banking as it is has a positive bias, so can pull up till there.”
She further added, “I find REC pretty oversold and short covering is just about started. The stop loss could be very close by, so it’s close at Rs 173.5 and you need to keep a stop loss closer to Rs 171. They could pull up intraday by tomorrow till about Rs 176-177 so this is a short term trade to play the upside. Nothing very long term calls so I would play it with a stop loss of just about a percent for about 3-4%.”