Technical Analyst, Ashwani Gujral is of the view that one can buy State Bank of India, SBI with support at Rs 2150.
Gujral told CNBC-TV18, "Banks clearly tend to see a lot of buying each time we have these large corrections. So something like Axis Bank, although it’s not a front liner, but its showing a lot of strength. Rs 950 is a good support out there and could head back to Rs 1200. A lot of the banks like SBI, on all declines that becomes a good buy with a support around Rs 2150 and can head up to Rs 2350. The idea is that on a gap down, you tend to get into the blue chips because those are the stocks that will rally before anything else, but broadly the market stays choppy, so none of the sectors are showing any real strength, probably things which are washed out totally like pharmaceuticals, FMCGs, they tend to offer you much more protection on the round side."
Source: Moneycontrol.com
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