Short SBI on every rise: Anu Jain

Short SBI on every rise, says Anu Jain, Sr. Vice President, IIFL Private Wealth Management.

Jain told CNBC-TV18, "State Bank has stayed up last week so has ICICI Bank, which is showing strength. So State Bank on the charts still remains short on every rise, so Rs 1,672 approximately where it closed and which is 20 day moving average. It will get another round of short covering. Only if it manages to close over Rs 1,720 then it can pull up right up to Rs 1,800. I don