SBI share price: You can book WHOPPING 10 pct return in one month - Here is how | Check experts advice
SBI share price has escalated from Rs 290 per stock levels to Rs 342 levels as the DIIs are putting their money into the banking counter.
The State Bank of India or SBI share price has escalated from Rs 290 per stock levels to Rs 340 od levels in one month. According to the stock market experts, this rise in SBI shares is mainly caused by the domestic institutional investors pumping huge amounts of money into the banking stock after the SBI's announcement that it has enough liquidity. However, those stock experts are still bullish about the PSU bank shares and they feel it can go up to Rs 365 per stock levels in one month.
On SBI stocks outlook Simi Bhaumik, a SEBI registered technical equity analyst said, "The SBI stocks are still bullish. On technical charts, the SBI shares are trading in the range of Rs 325 per stock levels to Rs 365 per stock levels. My advice to the share market investors is to buy SBI stocks on any dip of Rs 10 to Rs 12 rupee and book profit at around Rs 360 per stock levels." Asked about the time in which this SBI stock price target will be hit Bhaumik said that the SBI share price will hit Rs 360 per stock target in one month.
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On fundamentals of the SBI share price, Prakash Pandey, MD & CEO at Plutus Advisors said, "Major reason for the rise in SBI share price from Rs 290 to current Rs 342 per stock levels because the domestic institutional investors (DDIs) have been putting their money into the PSU banking stock in a heavy way. The reason behind this is the strong face value and quarterly numbers of the leading Indian bank." Pandey said that the State Bank of India has recently announced that it has enough liquidity and hence they can afford to cut down the interest rate on the SBI term deposit and SBI bulk deposits.
On the suggestion to the share market investors in regard to the SBI share price, Pandey said that one can buy the SBI shares at around Rs 330 for the target of around Rs 360-365 which may get hit in one month. However, Pandey strictly advised stock investors to maintain stop loss below Rs 325 while taking buy position in the SBI shares.
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