Watch for SBI's level of 2400: Rajat Bose, rajatkbose.com

Rajat Bose, rajatkbose.com (Technical Check), in a chat with ET Now, speaks about the State Bank of India.

What is the call on SBI?

I would be watching for the level of 2400 which as of now is still about 70 points from the current levels. If it manages to move above 2400 and stay there, then perhaps there is a possibility that it might have hit a bottom and showing some reversal sign but at the same time.

I would like to point out one thing. Today is a Friday and this would be a hat trick perhaps for the Nifty if it can post a good swing up. For the last couple of Fridays, we have seen such upswings but they fizzled out when the next week started. So by looking at today’s price movements be it State Bank or other weak stocks like ONGC or Reliance, I do not think we should be taking any decision or judging the strength of those counters.