IIFL has given a sell recommendation on SBI above Rs 2,184 with a target price of Rs 2,064. SBI has confirmed trend reversal after it retreated back to long term resistance line last week.

On the weekly chart, the stock has closed in positive terrain for four straight weeks and now is trading below the make or break levels.

A move below Rs 2,200 is indicating major breakdown in the counter with medium-term support placed at Rs 1,950, which is also confirmed with ‘evening star ‘ pattern in candlestick. "We recommend going short on SBI June futures above Rs 2,184 with a stop loss of Rs 2,244 for a target of Rs 2,064," the brokerage said.

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