SBI Share Price: Stock market experts unveil profitable strategy

SBI Share Price: On account of Centre's affidavit in the Supreme Court to provide relief to both banks and loan borrowers, Dinesh Khara replacing Rajnish Kumar as SBI Chairman and the recent special package to the banking sector, State Bank of India (SBI) has been put under the spotlight. According to stock market experts, SBI shares have been trading in the range of Rs 180 to Rs 210 levels for the last one month. They said that SBI stock price is poised to showcase upside swing as it has very strong support at Rs 180. They advised stock market investors to buy SBI shares below Rs 190 for the target of Rs 210 in immediate short-term time-horizon.

Highlighting the reason for being bullish on SBI share price, Sumeet Bagadia, Executive Director at Choice Broking said, "SBI share price has been range-bound for more than one month. But, the recent triggers of special package to the banking sector, Centre taking a dovish stance on EMI moratorium hearing in the Supreme Court and some internal developments in the largest commercial bank of India, the SBI share price is expected to break its immediate hurdle of Rs 195 and go up to Rs 205 to Rs 210 in the immediate short-term time horizon."

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On SBI share price outlook, Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "SBI share price has immediate support at Rs 180 and overall outlook of the stock is highly bullish. SBI shares will soon hit Rs 205 mark and I advise stock market investors to buy the Bank Nifty strong scrip at current Rs 190 levels." However, Singre strongly recommended stop-loss at Rs 180-mark.