Go long in L&T Finance Holdings, sell SBI: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "I am a bit conservative and caveat here is that yours truly is an investor in L&T Finance Holdings. My point is that although for the day I really don’t see it going beyond Rs 78.40 to about Rs 79.45. I expect supplies to come in there but for a position trader this actually is going to be a great opportunity because there is a technical set up that suggests that L&T Finance has already crossed its long-term downtrend line yesterday and set up is such that there would be a large swing coming in. It is under process, under development and that would pan out." "The range of Rs 60-90 would be taken out and probably it is moving into triple digits going forward. So, L&T Finance from a position traders perspective is a long but for a day trader put a stop loss below Rs 72.90, Rs 78.40 to about Rs 79.45 should be the target. Modest target imminently is achievable," he said.Again the caveat here is that yours is a truly in an investor in State Bank of India (SBI) but for day trader or for a short-term trader the stock looks weak. So, here is sell call I would say that both the intraday chart as well as the end of the day chart are suggesting that SBI is developing more weakness probably. It is headed for levels close to about Rs 180, my target is Rs 181.50 and I will put a stop loss above Rs 188.50. SBI to me is a sell for the day."