The State Bank of India (SBI) share price has been trading in the range of Rs 150 to Rs 180 range. Stock market experts are of the opinion that SBI shares are trading sideways because at the time of a sell off, public sector stocks get maximum beating while in the time of recovery their rate of recovery remains slowest in comparison to private sector stocks. SBI, a PSU stock, is caught in the same net. They said that once the market comes out of the Coronavirus impact, demand in PSU stocks will come and till then, SBI share price is expected to remain range-bound and trade sideways.

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Speaking on fundamentals of SBI share price, Sumeet Bagadia, Executive Director at Choice Broking said, "SBI is PSU stock and during the massive sell off SBI got hit maximum as PSU stocks witnessed severe sell off during Coronavirus impact on the global markets that includes India." Bagadia said that generally it has been found that PSU stocks receive maximum beating during sell off and during the time of recovery such stocks' recovery rate remains lower than the private sector rivals. Same thing is happening with the SBI shares and hence it is trading in the range of Rs 150 per stocks to Rs 180 per stocks.

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Highlighting the technicals of the SBI shares, Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "SBI shares have immediate support at Rs 162-163 per stock levels and on the upper side, it is facing resistance at Rs 190 levels. However, if we talk about the overall support for the SBI stocks, it stands at Rs 149 per stocks that's why SBI shares are trading in the range of Rs 150 to Rs 180." He said that any further move in the SBI shares can be seen only when it breaks either side of the range.