SBI share price today: Want to invest in this stock? See the expert strategy, buying levels, target price here

SBI share price outlook: India’s largest lender State Bank of India (SBI) stocks were trading at Rs 249.70 on Nifty a Rs 12:40 pm, down almost 0.9 per cent. The outlook of this stock remains bullish. What should the investors do with this stock? What levels should the fresh positions be made? What indicators support it and how is the stock positioned on charts? If all these questions are bothering you, technical analyst Nilesh Jain of Anand Rathi Securities clears all the doubts. Here is what he recommended:-
 
The stock has seen a decent upside after being a laggard for the most part of 2020, Jain said. This stock is poised well for an upward movement and it appeared that there were three targets that the investors can invest for, in this stock, the market expert said. These targets are based on the time horizon that the investors would want to take.
 
He said that SBI stocks are the only PSU bank stocks that he was bullish on.  
 
Jain said that he expected a rally up to Rs 300. This target price is with a 1-2 months view, he further said.
 
The SBI stocks look positive on charts and reflect a positive bias, Jain said. This stock surpassed a September 2020 high of Rs 231 which is a positive for this stock.
 
The technical analyst saw the next resistance level at Rs 263. Once this level is breached, there could be a rally up to Rs 300, which is the next resistance level. Once this level is crossed, the stock is expected to attain levels around Rs 350.
 
Right levels to buy this stock:
 
Jain recommended buying in this stock on dips. He puts the stop loss at Rs 220. He said that the risk-to-reward ratio was favourable now.

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The 52-week high for SBI stocks is Rs 351 which it achieved on 28 November 2019. Meanwhile, the 52-week low was Rs 149.44, hit on 22 May 2020.