SBI share price today: What is expected from the State Bank of India (SBI)? Will it see a pullback? Technical Analyst Nilesh Jain, who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking says that the outlook is positive, and he expects a pullback till this level. Here is what he recommends: 

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SBI shares were trading at Rs 359.95 on the NSE minutes before the stock market closing time. SBI share price was up by Rs 2.75 or 0.8 per cent from the previous closing price.  

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Jain said that one can expect a pullback till Rs 380 from the current levels. If SBI shares breach the Rs 380 level, an upside will be open for levels between Rs 400 and Rs 420, he further said.  

Jain said that the stock is placed well on the charts and is poised to see an upward movement from here. 

For new investors, his strategy is to buy this stock at current levels. He puts the stop-loss at Rs 340. As for, long term investors, he advised a Hold on this stock.    

SBI stock has shown two-way trade over the last 8-10 trading sessions, making the investors jittery.  

Investors who have a long position can stick with this view. The positional medium term view on SBI stock is also “good”, Jain said. The trend for investors is positive he said.  

He said that the trend is positive, and this stock could see a bounce back till levels around Rs 380.     

From the highs of Rs 427.70 made by the State Bank of India (SBI) on 18 February 2021, the stock has corrected by almost Rs 70 in the last six weeks. Any price correction should be seen as a 'buy on dip opportunity', Jain said.   

SBI shares are currently under consolidation, Jain said adding that the investors should not be too worried about recent correction as this is a gradual decline. It can be seen as a healthy correction. He said that SBI stock has seen a rally from levels around Rs 260 till Rs 420. There was no healthy correction during its journey, Jain said.     

SBI is well positioned to attain its positional medium term target of Rs 450.   

The 52-week low is Rs 149.45 which was achieved on 22 May 2020.   

SBI Share Price – Fundamental Analysis      

Kotak Securities maintains Buy. In its report of 5 February 2021, it estimated over 26 per cent upside.   

Puts Target Price at Rs 450.