Look at SBI: Jai Bala

Jai Bala of cashthechaos.com told CNBC-TV18, "I was looking Bank Nifty to face resistance above 21,500 but it started to come off from 20,900. It is difficult call to take, but you should play safe and lighten up your positions there too. State Bank of India (SBI) is a strongest stock in that sector."

On Friday, State Bank of India closed at Rs 299.95, up Rs 10.40, or 3.59 percent. It has touched an intraday high of Rs 300.75 and an intraday low of Rs 290.25.