Buy SBI at around Rs 215-220: Sameet Chavan

Sameet Chavan of Angel Broking told CNBC-TV18, "Dena Bank has been a laggard. Chart structure clearly doesn’t suggest anything, it has been maintaining its support level of Rs 38-39 but what I would suggest is that if one is comfortable switching on to good names like State Bank of India (SBI) and Bank of Baroda (BoB) from the public sector undertaking (PSU) sector then it would be a good strategy.""If one can switch to either SBI on lower levels, probably around Rs 220-215 or BoB around Rs 175-170 then that becomes a prudent strategy rather than holding on to it. One might get decent recovery in those stocks with six-eight months time horizon. So my suggestion would be to switch to SBI or BoB," he said.