SBI share price to create history? Experts unveil this money making strategy as State Bank of India stock nears life-time high

SBI Share Price Today: The State Bank of India (SBI) share price has been showing upside moves post-budget. SBI share price today hit Rs 414.30 — close to its lifetime high of Rs 427 — and is currently sustaining above Rs 400 per stock levels. According to stock market experts, SBI stock is expected to outperform other banking stocks. They said that the benefit of Modi government's announcement in regard to divestment and putting focus on the infrastructure sector will trickle down to SBI and that is getting reflected in current SBI share price rally. Giving SBI share price outlook, Zee Business Managing Editor Anil Singhvi has said that SBI share price target will hit a four-digit figure in the medium to long-term time horizon.

Speaking on the SBI share price target Zee Business Managing Editor Anil Singhvi said, "SBI is expected to outperform other banking stocks and we are going to witness huge rally in the Public Sector Banking stock due to the rural development projects announced by the central government. This is the major reason why various broker houses are upgrading their SBI share price target. But, if you take my opinion, I'm expecting SBI share price to hit a four-digit figure in the medium to long-term time horizon."

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On reason for rise in SBI shares, Sumeet Bagadia, Executive Director at Choice Broking said, "This rally in SBI shares is linked to the current stock market rally, which is fuelled by the Narendra Modi Government's divestment plans announced in the recent budget. IT augurs well about the public sector units and SBI being a public sector bank is getting maximum benefit of it as it was trading range-bound for more than a year though Bank Nifty was scaling new highs."

On what should be the ideal money making strategy in regard to SBI shares; SEBI registered technical equity expert Simi Bhaumik said, "SBI shares have strong support at Rs 380 to Rs 400 levels. Any dip should be seen as a buying opportunity or those having holdings can accumulate at this range. SBI share price immediate target is Rs 450 and in next 3-4 months, I am expecting it to hit Rs 540 to 550 per stock levels."