Go long in SBI: Chandan Taparia

According to Chandan Taparia of Anand Rathi, one may go long in State Bank of India.

Chandan Taparia of Anand Rathi told CNBC-TV18, " State Bank of India (SBI) is the public sector undertaking (PSU) heavy weight counter. This stock is witnessing fresh put writing at the Rs 300 strike. Also we have suggested covered Call and buying recommendation on this stock. Here we are suggesting to go long, keep the stoploss near to Rs 209 and also we are expecting this to test recent high of Rs 328."

At 14:20 hrs State Bank of India was quoting at Rs 314.15, up Rs 2.30, or 0.74 percent on the BSE.

The share touched its 52-week high Rs 327.10 and 52-week low Rs 145.60 on 01 December, 2014 and 14 February, 2014, respectively.

Disclosure: We are suggesting all these trading ideas to our clients but no personal holdings

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