SBI may test Rs 160, BoB Rs 110-111: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "ICICI Bank negated the recovery that it showed on Friday. So, if it was just about a pause or something then it should not have come and tested levels below Rs 225. The key level to watch out for would be Rs 220. If Rs 220 is taken out then downside windows opens and where you can expect it to go down to something like Rs 211-208." "The results have already come, it could be more on sentiment and more on something if the Reserve Bank of India (RBI) credit policy by the governor announces something about this non-performing asset recognition then ICICI Bank, State Bank of India (SBI) and Bank of Baroda (BoB) are the stocks that would actually climb down," he said."In State Bank the target is about Rs 160. If Rs 173 is decisively taken out in today’s trading then Rs 160 would be the target. For Bank of Baroda it could be Rs 111-110 on the downside. So, these are the banks I would be keenly watching if it were to fall and start falling that would actually dampen the Bank Nifty.""Bank of Baroda looks bad, it is once again starting to go down and I would say that if you get any kind of a minor bounce you can sell at current level, that is yesterday’s closing level. You can sell even on a minor rally upto Rs 126 and your stop loss should be Rs 129.75. The levels of Rs 118 and Rs 111 are the two targets."