Exit SBI, pick HDFC Bank: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "In State Bank of India (SBI) Rs 305-325 is a strong resistance zone. If it manages to get past that, then definitely further upside is likely. You look at SBI chart and you look at Wockhardt chart, they go up and then they surrender almost 100 percent of the gains, sometimes even more. This kind of volatility may not be a very great thing for even a long term investor. So, from that perspective, I would have probably bought HDFC Bank selling my SBI."

At 15:16 hrs State Bank of India was quoting at Rs 280.35, down Rs 2.55, or 0.90 percent on the BSE.

The share touched its 52-week high Rs 315 and 52-week low Rs 231 on 19 May, 2017 and 09 November, 2016, respectively.