Buy State Bank of India 290 call, advises Rahul Shah

Rahul Shah of Motilal Oswal Securities told CNBC-TV18, "Entire public sector undertaking (PSU) banks have been the outperformer in last seven or eight trading sessions. We have seen 15-20 percent run up in most of the PSU banks post their results. So, let us buy sector leader, so buy Call option of 290 strike price of State Bank of India (SBI) which is available at Rs 7.50-8, stop loss of Rs 5 with a target of Rs 14."At 13:07 hrs State Bank of India was quoting at Rs 284.25, up Rs 2.85, or 1.01 percent. It has touched an intraday high of Rs 285.80 and an intraday low of Rs 281.50.