Prefer SBI, advises Atul Badkar

Atul Badkar of Edelweiss Securities told CNBC-TV-18, "If one looks at the Bank Nifty technically and also observe the open interest then somewhere it seems to be tiring out around 11,300 but what is interesting to watch out within the entire banking space is that a lot of banks are high beta like Axis Bank, ICICI Bank, State Bank of India (SBI) and YES Bank. These banks, if the Nifty was to move to inch up towards all time high, which is around 6,340-6,350 then one will see a big move in them but until then it is relatively safer to be between relatively high beta name and not so high beta."

"SBI seems to be relatively safer bet, we have seen slow, good amount of open interest built-up, on charts, we think it is post for the next zone which is around Rs 1,880. So, that is one name, one wants to stick within the banking space given that we are at 6,200 and the fact that we do not know that the next 100 points could be which side. So, I will stick with SBI and only move towards ICICI Bank or YES Bank if we move towards 6,300 and beyond," he said.