Expert says BUY SBI stock, price target Rs 430, stop-loss Rs 310
SBI Share price today: Ashis Biswas, Head of Technical Research at CapitalVia Global Research says that SBI is likely to hold above the Rs 330 - Rs 340 level, the stock is trading close to its long-term support. The investor can look for a low-risk entry point at the current market level around Rs 330-Rs 345. SBI has been trading in a corrective phase, and the positive momentum is likely to resume
SBI Share price today: Ashis Biswas, Head of Technical Research at CapitalVia Global Research says that SBI is likely to hold above the Rs 330 – Rs 340 level, the stock is trading close to its long-term support. The investor can look for a low-risk entry point at the current market level around Rs 330-Rs 345. SBI has been trading in a corrective phase, and the positive momentum is likely to resume. SBI share price today is Rs 337, up Rs 6 or 1.8%. SBI share price has remained flat in the last 1 week.
Ashis said that SBI can expect a bounce-back in the stock from the lower band of an uptrend channel coincides with the support of 55 DMA. Ashis recommends a buy on SBI in the zone of Rs 330 – Rs 345. He expects the stock to gain momentum and advise to maintain the Target of 430 with a stop-loss of Rs 310 for a short-term period.
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Vishal Wagh, Research Head at Bonanza Portfolio has done a detailed analysis for traders and investors that will help them to understand the SBI stock trading levels and stop-loss. SBI is the leader in PSU Banking space. Q3 FY21 results of SBI have been above expectations and guidance given by SBI on asset quality is extremely good.
The upper side of SBI seems limited in SBI to Rs 427 – Rs 435 levels and on the lower side 1st support level is at Rs 370 – Rs 360 range. If broken these levels then it will be ready for further fall till Rs 330 – Rs 325 levels, said Wagh
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